Wells Fargo & Co. Initiates Coverage on Red Robin Gourmet Burgers (RRGB)
Investment analysts at Wells Fargo & Co. (NYSE: WFC) assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ: RRGB) in a note issued to investors on Friday. The firm set a “market perform” rating on the stock.
Shares of Red Robin Gourmet Burgers traded down 0.20% during mid-day trading on Friday, hitting $35.07. Red Robin Gourmet Burgers has a one year low of $21.68 and a one year high of $39.32. The company has a market cap of $511.7 million and a P/E ratio of 26.22.
Red Robin Gourmet Burgers last announced its earnings results on Thursday, February 16th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.08. Red Robin Gourmet Burgers’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that Red Robin Gourmet Burgers will post $0.53 earnings per share next quarter.
A number of other analysts have also recently weighed in on RRGB. Analysts at Morgan Stanley (NYSE: MS) raised their price target on shares of Red Robin Gourmet Burgers to $31.00 in a research note to investors on Monday, April 16th. Separately, analysts at Bank of America (NYSE: BAC) raised their price target on shares of Red Robin Gourmet Burgers from $39.00 to $46.00 in a research note to investors on Thursday, April 5th. Finally, analysts at DA Davidson initiated coverage on shares of Red Robin Gourmet Burgers in a research note to investors on Wednesday, March 28th. They set a “buy” rating on the stock.
Red Robin Gourmet Burgers, Inc. (Red Robin), together with its subsidiaries, is a casual dining restaurant chain focused on serving burgers.