Benchmark Reiterates "Buy" Rating for Red Robin Gourmet Burgers (NASDAQ:RRGB)

Benchmark reiterated their buy rating on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB - Free Report) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $18.00 price objective on the restaurant operator's stock.

Red Robin Gourmet Burgers Price Performance

Red Robin Gourmet Burgers stock traded down $0.23 during mid-day trading on Monday, hitting $5.77. The company's stock had a trading volume of 596,212 shares, compared to its average volume of 322,802. Red Robin Gourmet Burgers has a 52-week low of $5.67 and a 52-week high of $16.50. The firm's 50 day moving average is $7.91 and its 200 day moving average is $9.11. The company has a market cap of $90.01 million, a PE ratio of -4.31 and a beta of 2.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The firm had revenue of $309.00 million during the quarter, compared to analyst estimates of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. As a group, analysts forecast that Red Robin Gourmet Burgers will post -1.48 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

A number of hedge funds have recently modified their holdings of RRGB. BlackRock Inc. lifted its position in shares of Red Robin Gourmet Burgers by 282.8% in the 2nd quarter. BlackRock Inc. now owns 1,009,625 shares of the restaurant operator's stock worth $13,963,000 after acquiring an additional 745,851 shares during the period. First Eagle Investment Management LLC raised its position in Red Robin Gourmet Burgers by 70.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator's stock valued at $6,075,000 after purchasing an additional 313,373 shares during the last quarter. Fund 1 Investments LLC raised its position in Red Robin Gourmet Burgers by 253.0% in the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator's stock valued at $3,796,000 after purchasing an additional 218,187 shares during the last quarter. State Street Corp raised its position in Red Robin Gourmet Burgers by 263.7% in the 2nd quarter. State Street Corp now owns 260,945 shares of the restaurant operator's stock valued at $3,609,000 after purchasing an additional 189,200 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Red Robin Gourmet Burgers by 94.1% in the 2nd quarter. Geode Capital Management LLC now owns 312,547 shares of the restaurant operator's stock valued at $4,323,000 after buying an additional 151,492 shares during the period. Institutional investors own 84.04% of the company's stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.