Red Robin Gourmet Burgers’ (RRGB) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $18.00 price target on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Down 0.5 %

NASDAQ:RRGB opened at $5.95 on Monday. The stock has a market cap of $92.82 million, a PE ratio of -4.44 and a beta of 2.83. The business’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $9.06. Red Robin Gourmet Burgers has a 52 week low of $5.56 and a 52 week high of $16.50.

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

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake 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 worth $6,075,000 after purchasing an additional 313,373 shares in the last quarter. Raymond James & Associates grew its holdings in Red Robin Gourmet Burgers by 12.7% during the 3rd quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock valued at $421,000 after buying an additional 5,900 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Red Robin Gourmet Burgers by 15.5% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 518,237 shares of the restaurant operator’s stock valued at $4,167,000 after buying an additional 69,514 shares in the last quarter. Victory Capital Management Inc. increased its stake in Red Robin Gourmet Burgers by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock worth $481,000 after acquiring an additional 2,267 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter worth approximately $90,000. Institutional investors own 84.04% of the company’s stock.

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.