Benchmark Cuts Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target to $16.00

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price target trimmed by Benchmark from $18.00 to $16.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on RRGB. Lake Street Capital raised their price target on shares of Red Robin Gourmet Burgers from $16.00 to $17.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Craig Hallum dropped their price objective on shares of Red Robin Gourmet Burgers from $20.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $14.25.

Red Robin Gourmet Burgers Trading Down 6.3 %

RRGB opened at $4.73 on Tuesday. Red Robin Gourmet Burgers has a twelve month low of $4.50 and a twelve month high of $12.80. The firm has a market cap of $74.17 million, a price-to-earnings ratio of -2.69 and a beta of 2.75. The company has a fifty day simple moving average of $6.15 and a 200 day simple moving average of $7.12.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, May 29th. The restaurant operator reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.39). The business had revenue of $388.54 million during the quarter, compared to analysts’ expectations of $397.08 million. On average, analysts forecast that Red Robin Gourmet Burgers will post -1.79 earnings per share for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at approximately $25,000. Pacific Ridge Capital Partners LLC grew its holdings in Red Robin Gourmet Burgers by 18.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 911,005 shares of the restaurant operator’s stock worth $6,896,000 after buying an additional 143,957 shares in the last quarter. Millennium Management LLC acquired a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $2,777,000. AQR Capital Management LLC increased its position in Red Robin Gourmet Burgers by 250.3% in the 2nd quarter. AQR Capital Management LLC now owns 73,039 shares of the restaurant operator’s stock valued at $553,000 after acquiring an additional 52,190 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at $172,000. 84.04% of the stock is currently 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.