(RRGB) Red Robin Gourmet Burgers – Bull of the Day

Red Robin Gourmet Burgers (RRGB) reported another solid quarter with fourth-quarter 2011 earnings surpassing the Zacks Consensus Estimate as it experienced upside in revenue and margin. The company is progressing quite successfully in turning around its business by Project RED, which focuses on revenue growth, expense control and capital deployment.

The pace of the company’s ongoing cost saving initiatives is faster than expected. Moreover, the loyalty program is tremendously successful. Also, the company is experiencing same-store sales growth based on its marketing and promotional activities.

In addition, the company’s focus on franchising, unit growth, store remodeling, investments to improve operational efficiency and enhancing shareholder value also augurs well for its earnings. Hence, we upgrade the stock from Neutral to Outperform.

RED ROBIN GOURM (RRGB): Free Stock Analysis Report

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