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Fly News Breaks for May 23, 2018
RRGB
May 23, 2018 | 08:06 EDT
Maxim analyst Stephen Anderson lowered his price target on Red Robin after its Q1 earnings miss, saying the company's negative menu mix weighed on comps and EPS in the quarter. The analyst keeps his Buy rating, saying that despite the negative SSS, margins were still better than expected. Anderson also cites the ongoing positive catalysts for Red Robin, including comp gains from off-premise sales, a return to a positive menu mix, easier food cost comparisons, potential for debt reduction, and restaurant-level margin expansion opportunities.
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