Benchmark Increases Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target to $10.00

Key Points

• Benchmark raised Red Robin’s price target from $8 to $10 and maintained a “buy” rating, though the target implies 4.08% downside from the reported $10.43 share price.
• Analyst sentiment remains mixed: two analysts rate the stock a buy, one a hold and one a sell, resulting in an overall “Hold” consensus and an average target price of $8.33.
• Red Robin reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding the $268.56 million consensus revenue estimate; institutional investors own approximately 84.04% of the company.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) had its target price lifted by analysts at Benchmark from $8.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. Benchmark's price target suggests a potential downside of 4.08% from the company's current price.

A number of other research analysts have also weighed in on the stock. Wall Street Zen raised shares of Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a research report on Friday, July 17th. Finally, UBS Group set a $8.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Two 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, the company presently has an average rating of "Hold" and a consensus target price of $8.33.

Red Robin Gourmet Burgers Price Performance

Shares of Red Robin Gourmet Burgers stock opened at $10.43 on Thursday. The company has a market capitalization of $192.86 million, a P/E ratio of -6.79 and a beta of 2.40. The business has a 50-day moving average of $6.80 and a two-hundred day moving average of $4.83. Red Robin Gourmet Burgers has a 1 year low of $2.45 and a 1 year high of $8.49.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The business had revenue of $277.64 million for the quarter, compared to the consensus estimate of $268.56 million. On average, equities analysts anticipate that Red Robin Gourmet Burgers will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of large investors have recently bought and sold shares of the company. JCP Investment Management LLC boosted its stake in shares of Red Robin Gourmet Burgers by 0.6% during the 4th quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator's stock worth $7,579,000 after buying an additional 10,567 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in Red Robin Gourmet Burgers by 8.8% during 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 buying an additional 112,526 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 during the period. Mink Brook Asset Management LLC lifted its position in shares of 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 valued at $2,148,000 after buying an additional 70,893 shares during the last quarter. Finally, Simcoe Capital LLC acquired a new stake in Red Robin Gourmet Burgers during the 4th quarter valued at $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.

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