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

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price objective cut by investment analysts at Benchmark from $12.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price target would suggest a potential upside of 102.53% from the stock’s previous close.

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

Red Robin Gourmet Burgers Price Performance

Shares of NASDAQ RRGB opened at $3.95 on Monday. The stock’s fifty day moving average price is $3.55 and its two-hundred day moving average price is $4.28. Red Robin Gourmet Burgers has a one year low of $2.45 and a one year high of $7.89. The firm has a market cap of $71.65 million, a price-to-earnings ratio of -3.02 and a beta of 2.30.

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. On average, equities analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several large investors have recently added to or reduced their stakes in the business. JCP Investment Management LLC grew its stake in Red Robin Gourmet Burgers by 0.6% during the fourth quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock worth $7,579,000 after purchasing an additional 10,567 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in 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 in the last quarter. Vanguard Group Inc. boosted its holdings in Red Robin Gourmet Burgers by 1.4% in the third quarter. Vanguard Group Inc. now owns 752,809 shares of the restaurant operator’s stock worth $5,164,000 after acquiring an additional 10,735 shares in the last quarter. Mink Brook Asset Management LLC boosted its holdings in Red Robin Gourmet Burgers by 15.4% in the fourth quarter. Mink Brook Asset Management LLC now owns 530,345 shares of the restaurant operator’s stock worth $2,148,000 after acquiring an additional 70,893 shares in the last quarter. Finally, Simcoe Capital LLC bought a new position in Red Robin Gourmet Burgers in the fourth quarter worth approximately $1,989,000. 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.