Brokerages Set Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Price Target at $9.67

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) have received an average recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.6667.

Several research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, October 8th. Zacks Research downgraded Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Jefferies Financial Group upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, December 15th. Finally, Benchmark reaffirmed a “buy” rating on shares of Red Robin Gourmet Burgers in a research note on Monday, November 17th.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in shares of Red Robin Gourmet Burgers during the first quarter worth $209,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Red Robin Gourmet Burgers during the 1st quarter valued at about $61,000. Goldman Sachs Group Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 38.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 84,625 shares of the restaurant operator’s stock worth $301,000 after acquiring an additional 23,638 shares during the period. Jane Street Group LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth about $69,000. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the second quarter worth approximately $174,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Stock Down 2.7%

NASDAQ:RRGB opened at $3.99 on Friday. Red Robin Gourmet Burgers has a 52-week low of $2.50 and a 52-week high of $7.89. The stock has a fifty day simple moving average of $4.16 and a 200-day simple moving average of $5.59. The company has a market capitalization of $71.68 million, a PE ratio of -1.24 and a beta of 2.23.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Monday, November 10th. The restaurant operator reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.08. The business had revenue of $265.13 million for the quarter, compared to analysts’ expectations of $256.75 million. As a group, equities analysts anticipate that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current year.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.