Benchmark Cuts Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target to $8.00

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

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

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB opened at $4.12 on Monday. The stock has a fifty day moving average price of $3.57 and a 200-day moving average price of $4.23. The company has a market cap of $74.74 million, a price-to-earnings ratio of -3.15 and a beta of 2.30. Red Robin Gourmet Burgers has a fifty-two week low of $2.45 and a fifty-two week high of $7.89.

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

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in shares of Red Robin Gourmet Burgers by 503.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after buying an additional 4,487 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Red Robin Gourmet Burgers by 152.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after buying an additional 6,075 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth $70,000. Granite Investment Partners LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth $73,000. Finally, Jain Global LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth $47,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.