Red Robin Gourmet Burgers (NASDAQ:RRGB) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a report issued on Monday, Benzinga reports. They currently have a $18.00 price target on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Down 3.8 %

Shares of RRGB stock opened at $5.77 on Monday. Red Robin Gourmet Burgers has a 12-month low of $5.67 and a 12-month high of $16.50. The firm has a market capitalization of $90.01 million, a price-to-earnings ratio of -4.31 and a beta of 2.83. The firm has a fifty day moving average of $7.82 and a 200-day moving average of $9.10.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. The firm had revenue of $309.00 million during the quarter, compared to analyst estimates of $304.73 million. Research analysts expect that Red Robin Gourmet Burgers will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several institutional investors and hedge funds have recently made changes to their positions in RRGB. Citigroup Inc. boosted its stake in Red Robin Gourmet Burgers by 11.2% in the 1st quarter. Citigroup Inc. now owns 13,004 shares of the restaurant operator’s stock worth $219,000 after purchasing an additional 1,309 shares during the period. Rhumbline Advisers boosted its stake in Red Robin Gourmet Burgers by 7.9% in the 3rd quarter. Rhumbline Advisers now owns 19,280 shares of the restaurant operator’s stock worth $155,000 after purchasing an additional 1,417 shares during the period. Tower Research Capital LLC TRC boosted its stake in Red Robin Gourmet Burgers by 122.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 1,435 shares during the period. Geode Capital Management LLC boosted its stake in Red Robin Gourmet Burgers by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 160,322 shares of the restaurant operator’s stock worth $894,000 after purchasing an additional 1,450 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Red Robin Gourmet Burgers by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,549 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 1,671 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.