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

Red Robin Gourmet Burgers (NASDAQ:RRGB)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued on Wednesday,Benzinga reports. They presently have a $12.00 target price on the restaurant operator’s stock. Benchmark’s price objective would indicate a potential upside of 88.38% from the stock’s current price.

Red Robin Gourmet Burgers Stock Up 1.3%

NASDAQ:RRGB opened at $6.37 on Wednesday. Red Robin Gourmet Burgers has a 52-week low of $2.50 and a 52-week high of $7.05. The firm has a market cap of $113.00 million, a P/E ratio of -1.51 and a beta of 2.41. The business’s 50-day moving average price is $5.04 and its 200 day moving average price is $4.64.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.76. The business had revenue of $392.35 million for the quarter, compared to the consensus estimate of $388.77 million. During the same period in the previous year, the business posted ($0.80) EPS. Sell-side analysts expect that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Anthony S. Ackil bought 14,910 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $5.03 per share, for a total transaction of $74,997.30. Following the transaction, the director owned 103,802 shares of the company’s stock, valued at $522,124.06. This represents a 16.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Institutional investors and hedge funds have recently made changes to their positions in the stock. JCP Investment Management LLC grew its holdings in shares of Red Robin Gourmet Burgers by 281.6% during the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator’s stock worth $10,215,000 after purchasing an additional 1,373,077 shares in the last quarter. Bandera Partners LLC grew its stake in Red Robin Gourmet Burgers by 270.2% during the first quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator’s stock worth $3,026,000 after purchasing an additional 620,402 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Red Robin Gourmet Burgers by 112.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator’s stock worth $2,166,000 after purchasing an additional 208,862 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in shares of Red Robin Gourmet Burgers by 8.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator’s stock valued at $5,872,000 after acquiring an additional 85,518 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Red Robin Gourmet Burgers during the first quarter valued at approximately $209,000. Institutional investors 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.