Benchmark Lowers Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target to $8.00
by Tristan Rich · The Markets DailyRed Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) had its price objective cut by investment analysts at Benchmark from $12.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Benchmark’s price objective points to a potential upside of 102.53% from the company’s current price.
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.50.
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Red Robin Gourmet Burgers Stock Performance
Shares of RRGB opened at $3.95 on Monday. Red Robin Gourmet Burgers has a 1 year low of $2.45 and a 1 year high of $7.89. The stock has a market cap of $71.65 million, a P/E ratio of -3.02 and a beta of 2.30. The stock’s 50-day moving average price is $3.55 and its two-hundred day moving average price is $4.28.
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.13). The firm had revenue of $269.04 million during the quarter, compared to analyst estimates of $264.26 million. As a group, equities analysts forecast that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position 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 purchasing an additional 4,487 shares during the last quarter. Osaic Holdings Inc. increased 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 acquiring an additional 6,075 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth approximately $70,000. Granite Investment Partners LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter worth approximately $73,000. Finally, Jain Global LLC acquired a new position in shares of Red Robin Gourmet Burgers during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 84.04% of the company’s stock.
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.