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

Benchmark reiterated their buy rating on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research note released on Monday, Benzinga reports. They currently have a $18.00 target price on the restaurant operator’s stock.

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB opened at $6.00 on Monday. The firm has a 50-day simple moving average of $7.57 and a 200-day simple moving average of $9.04. Red Robin Gourmet Burgers has a one year low of $5.56 and a one year high of $16.50. The firm has a market cap of $93.62 million, a P/E ratio of -4.48 and a beta of 2.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. The firm had revenue of $309.00 million during the quarter, compared to analysts’ expectations of $304.73 million. On average, research analysts predict that Red Robin Gourmet Burgers will post -1.61 EPS for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Red Robin Gourmet Burgers by 282.8% during the 2nd quarter. BlackRock Inc. now owns 1,009,625 shares of the restaurant operator’s stock valued at $13,963,000 after buying an additional 745,851 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Red Robin Gourmet Burgers by 70.9% during the third quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator’s stock valued at $6,075,000 after acquiring an additional 313,373 shares in the last quarter. Fund 1 Investments LLC raised its position in shares of 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 stake 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 worth $3,609,000 after acquiring an additional 189,200 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in 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 worth $4,323,000 after buying an additional 151,492 shares during the period. Hedge funds and other 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.