Red Robin reauthorizes $50M stock repurchase program Red Robin Gourmet Burgers announced that the company's Board of Directors reauthorized its share repurchase program currently set to expire December 31. The Board has approved the repurchase of up to $50M in the company's common stock. The share repurchase authorization is effective the earlier of January 1, 2013, or upon completion of the current authorization, and will terminate upon completing repurchases of $50M of common stock unless otherwise terminated by the Board.
News For RRGB From The Last 14 Days
Check below for free stories on RRGB the last two weeks.
Red Robin share pullback overdone, says Jefferies Jefferies views yesterday's pullback in shares of Red Robin as overdone saying the stock it too cheap at current levels. The firm believes Red Robin has "plenty of bullets" to drive market share gains and it keeps a Buy rating on the name with a reduced price target of $80.
Red Robin price target lowered to $75 from $95 at Stephens Stephens lowered its estimates for Red Robin and cut its price target on the stock to $75 following the company's Q2 earnings miss. However, the firm maintains its Overweight rating on the stock and said it would take advantage of the post-earnings pullback to add to positions, citing valuation and a favorable set-up for the end of this year and 2015.