Red Robin Gourmet Burgers (NASDAQ:RRGB) Given New $8.00 Price Target at Benchmark

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price target trimmed by Benchmark from $12.00 to $8.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Red Robin Gourmet Burgers presently has an average rating of “Hold” and a consensus price target of $7.50.

Red Robin Gourmet Burgers Trading Up 4.1%

Shares of RRGB stock opened at $4.11 on Monday. Red Robin Gourmet Burgers has a 1 year low of $2.45 and a 1 year high of $7.89. The firm’s 50 day moving average is $3.56 and its 200-day moving average is $4.25. The firm has a market capitalization of $74.56 million, a price-to-earnings ratio of -3.14 and a beta of 2.30.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, February 25th. The restaurant operator reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.13). The firm had revenue of $269.04 million for the quarter, compared to the consensus estimate of $264.26 million. On average, equities research analysts forecast that Red Robin Gourmet Burgers will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 4,487 shares during the period. Osaic Holdings Inc. lifted its holdings in Red Robin Gourmet Burgers by 152.6% in the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 6,075 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in Red Robin Gourmet Burgers in the third quarter valued at approximately $70,000. Granite Investment Partners LLC acquired a new position in Red Robin Gourmet Burgers in the third quarter valued at approximately $73,000. Finally, Jain Global LLC acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth $47,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.