|Over a week ago|
Red Robin names Darla Morse as Chief Information Officer » 16:0703/2903/29/21
Red Robin Gourmet Burgers…
Red Robin Gourmet Burgers announced the appointment of Darla Morse as Executive Vice President and Chief Information Officer, effective April 12, 2021. In her new role, she will lead the company's enterprise technology strategy and implementation at Red Robin, including digital platforms, corporate and restaurant systems, data management, security and infrastructure.
|Over a month ago|
JPMorgan to hold a virtual forum » 10:5103/1103/11/21
SHAK, YUM, TNL, WH, PLNT, RRGB
Gaming, Lodging, Restaurant & Leisure Management Access Virtual Forum to be held on March 11-12.
Red Robin upgraded to Buy at Loop Capital on expected return of positive comps » 07:0003/0503/05/21
As previously reported,…
As previously reported, Loop Capital analyst Lynne Collier upgraded Red Robin to Buy from Hold with a price target of $40, up from $15. The analyst notes that a recovery in comps is "underway" as they approach positive levels. Collier further states that based on her observations in terms of "pent-up demand" in the Texas market and the incremental catalyst from Red Robin's partnership with Donato's pizza, she believes that the company's comps and earnings will likely exceed consensus expectations in the second half of this year and into 2022.
Red Robin price target raised to $40 from $35 at Raymond James » 09:0503/0403/04/21
Raymond James analyst…
Raymond James analyst Brian Vaccaro raised the firm's price target on Red Robin to $40 from $35 and keeps an Outperform rating on the shares following the company's Q4 results. Quarter-to-date sales have shown solid sequential improvement as dine-in restrictions have eased, and Vaccaro expects significant additional upside as key, high volume markets on the West Coast reopen, the analyst tells investors in a research note.
Red Robin upgraded to Buy from Hold at Loop Capital » 08:3603/0403/04/21
Loop Capital analyst…
Loop Capital analyst Lynne Collier upgraded Red Robin to Buy from Hold with a $40 price target.
Red Robin reports Q4 EPS ($1.79), consensus ($1.10) » 16:0903/0303/03/21
Reports Q4 revenue…
Reports Q4 revenue $201.1M, consensus $230.83M. Reports Q4 adjusted EBITDA ($6.4M) vs. $26.7M last year. Reports Q4 SSS down 29.0%. CEO Paul Murphy says: "2020 was a challenging year for our Team Members, for the Communities and Guests that we serve, and for our business. However, not only did Red Robin persevere, we took advantage of the opportunity created by the pandemic to improve our Guest experience and strengthen our enterprise business model. We implemented our Total Guest Experience hospitality model, optimized our management labor structure, simplified our menu, and renegotiated our lease portfolio, all of which will enable us to generate more than 100 basis points of incremental enterprise-level margin improvement when we return to pre-COVID sales volumes. In the first quarter of 2021, we also secured a second amendment to our credit facility, which provides increased near-term flexibility as we continue to de-lever our balance sheet and strategically position the brand for the future. There is no doubt that increased dining restrictions during the fourth quarter in California, Colorado, Oregon, and Washington had a significant, negative impact to our topline momentum. However, we are bullish as we look to the future reopening of these markets, which represented almost 40% of our 2019 restaurant sales. We are very encouraged by our recent sales trajectory, and as capacity restrictions loosen in these Western markets, we believe our geographic mix will drive sales growth that outpaces the industry. In addition, we are confident that the continued rollout of Donatos(R), which we expect will generate over $60 million in annual pizza sales by 2023, higher off-premise sales, record Guest satisfaction scores, and other Company sales drivers will augment our strengthening business results and create and grow long-term value for our shareholders."
|Over a quarter ago|
Red Robin says Q4 net comparable restaurant revenue down 28.9% » 07:1101/1101/11/21
Paul J.B. Murphy III, Red…
Paul J.B. Murphy III, Red Robin's President and Chief Executive Officer, said, "During an unprecedented year due to the pandemic, we achieved a great deal, strengthening Red Robin's operational execution, business model and liquidity. Our accomplishments are now enabling us to focus on creating long-term value for all shareholders as we enter 2021." Murphy concluded, "We began the fourth quarter with sequential improvement in comparable restaurant revenue compared to the third quarter, however, momentum stalled due to heightened dine-in and other restrictions in 43% of Company-owned restaurants including restaurants in our key states of California, Colorado, Oregon, and Washington. While the near-term is likely to remain volatile because of COVID-19, we are encouraged by recent state re-openings, and we expect indoor dining to be re-opened at 39 restaurants as of January 11th. We firmly believe Red Robin is well-positioned from both a sales and profitability standpoint when conditions normalize." Net comparable restaurant revenue decreased 28.9%, primarily resulting from our operational shift in response to COVID-19, including limited occupant capacity, operating an off-premise only model at restaurants with closed dining rooms, and closed restaurants; Off-premise sales increased 132% and comprised 43.9% of total food and beverage sales; and Restaurants with Donatos outperformed restaurants that do not currently offer Donatos by over 500 basis points in net comparable restaurant revenue. Q4 revenues consensus is $245.56M.
Red Robin upgraded to Outperform from Market Perform at Raymond James » 07:0401/0601/06/21
Raymond James analyst…
Raymond James analyst Brian Vaccaro upgraded Red Robin to Outperform from Market Perform with a $26 price target. Vaccaro believes that a sizable tax refund collected in October of $49M effectively shelves near-term liquidity concerns and that the stock's depressed valuation more than offsets below-average near-term sales visibility. Additionally, the analyst feels that the tangible cost savings realized during COVID support management's optimism that post-COVID EBIT margins could exceed pre-COVID levels assuming a 100% sales recovery.
Red Robin upgraded to Outperform from Market Perform at Raymond James » 05:0001/0601/06/21
Raymond James analyst…
Raymond James analyst Brian Vaccaro upgraded Red Robin Gourmet Burgers to Outperform from Market Perform with a $26 price target.
AT&T downgrade, Yum! Brands upgrade among today's top calls on Wall Street » 10:1212/1712/17/20
T, TMUS, AAPL, YUM, QSR, DRI, BJRI, RRGB, PLAY, CBRL, CVNA, VRM, DGX, TSLA
Check out today's top…