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

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Benchmark in a report released on Wednesday,Benzinga reports. They currently have a $12.00 price target on the restaurant operator's stock. Benchmark's price target indicates a potential upside of 93.24% from the company's current price.

Red Robin Gourmet Burgers Stock Performance

Shares of Red Robin Gourmet Burgers stock traded down $0.16 during midday trading on Wednesday, reaching $6.21. 178,155 shares of the company's stock traded hands, compared to its average volume of 570,981. The company has a market cap of $110.17 million, a PE ratio of -1.47 and a beta of 2.41. The stock has a 50 day moving average of $5.10 and a 200-day moving average of $4.65. Red Robin Gourmet Burgers has a 12 month low of $2.50 and a 12 month high of $7.05.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The restaurant operator reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.76. The firm had revenue of $392.35 million during the quarter, compared to analysts' expectations of $388.77 million. During the same period in the previous year, the company earned ($0.80) earnings per share. On average, equities analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony S. Ackil acquired 14,910 shares of the stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $5.03 per share, with a total value of $74,997.30. Following the purchase, the director directly owned 103,802 shares of the company's stock, valued at approximately $522,124.06. This trade represents a 16.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently bought and sold shares of RRGB. JCP Investment Management LLC increased its holdings in shares of Red Robin Gourmet Burgers by 281.6% in the 4th quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator's stock valued at $10,215,000 after acquiring an additional 1,373,077 shares during the period. Bandera Partners LLC grew its stake in Red Robin Gourmet Burgers by 270.2% during the 1st quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator's stock worth $3,026,000 after buying an additional 620,402 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Red Robin Gourmet Burgers by 112.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator's stock worth $2,166,000 after buying an additional 208,862 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Red Robin Gourmet Burgers by 8.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator's stock worth $5,872,000 after buying an additional 85,518 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Red Robin Gourmet Burgers during the 1st quarter valued at about $209,000. 84.04% of the stock is owned by institutional investors.

Red Robin Gourmet Burgers Company Profile

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.