Red Robin Gourmet Gets a Hold Rating from Canaccord Genuity

By Ryan Adsit

In a report released today, Lynne Collier from Canaccord Genuity reiterated a Hold rating on Red Robin Gourmet (NASDAQ: RRGB), with a price target of $62. The company’s shares opened today at $71.40, close to its 52-week high of $72.10.

Collier noted:

“We also note that guidance implies hockey-stick performance in 2H17. We are increasing our PT to $62 (from $52), which is based on ~7x our 2018 EBITDA estimate of $163.7 million.”

According to TipRanks.com, Collier is a 5-star analyst with an average return of 17.6% and a 75.6% success rate. Collier covers the Services sector, focusing on stocks such as Brinker International, The Chefs’ Warehouse, and Thomson Reuters Corp.

Currently, the analyst consensus on Red Robin Gourmet is Moderate Buy and the average price target is $67, representing a -6.2% downside.

In a report issued on May 10, Jefferies also reiterated a Hold rating on the stock with a $52 price target.

Red Robin Gourmet’s market cap is currently $744M and has a P/E ratio of 108.18. The company has a book value ratio of 2.5415.

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Red Robin Gourmet Burgers, Inc. engages in the development, operation, and franchise of full-service restaurants. It serves variety of salads, soups, appetizers, entrees, desserts, and signature beverages. The company was founded in September 1969 and is headquartered in Greenwood Village, CO.