Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Price Expected to Rise, Benchmark Analyst Says

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its target price lifted by equities research analysts at Benchmark from $8.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price target suggests a potential downside of 4.08% from the stock’s current price.

A number of other equities analysts have also commented on RRGB. UBS Group set a $8.00 price objective on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Red Robin Gourmet Burgers presently has an average rating of “Hold” and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB opened at $10.43 on Thursday. The firm has a market cap of $192.86 million, a price-to-earnings ratio of -6.79 and a beta of 2.40. Red Robin Gourmet Burgers has a 52 week low of $2.45 and a 52 week high of $8.49. The firm’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $4.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 EPS for the quarter. The business had revenue of $277.64 million for the quarter, compared to the consensus estimate of $268.56 million. Sell-side analysts anticipate that Red Robin Gourmet Burgers will post -0.5 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several large investors have recently bought and sold shares of the business. JCP Investment Management LLC grew its position in Red Robin Gourmet Burgers by 0.6% in the fourth quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock valued at $7,579,000 after acquiring an additional 10,567 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 8.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock worth $5,623,000 after acquiring an additional 112,526 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 752,809 shares of the restaurant operator’s stock valued at $5,164,000 after purchasing an additional 10,735 shares in the last quarter. Mink Brook Asset Management LLC grew its holdings in shares of Red Robin Gourmet Burgers by 15.4% during the 4th quarter. Mink Brook Asset Management LLC now owns 530,345 shares of the restaurant operator’s stock valued at $2,148,000 after purchasing an additional 70,893 shares during the last quarter. Finally, Simcoe Capital LLC acquired a new position in Red Robin Gourmet Burgers during the 4th quarter worth approximately $1,989,000. 84.04% of the stock is owned by institutional investors and hedge funds.

About Red Robin Gourmet Burgers

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.