Red Robin Gourmet Burgers (NASDAQ:RRGB) Price Target Raised to $10.00

Red Robin Gourmet Burgers (NASDAQ:RRGB) had its price objective raised by Benchmark from $8.00 to $10.00 in a research note released on Thursday, Marketbeat Ratings reports. Benchmark currently has a buy rating on the restaurant operator’s stock.

Several other research firms have also weighed in on RRGB. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Friday, July 17th. Wall Street Zen raised shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group set a $8.00 target price on shares of Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Red Robin Gourmet Burgers has an average rating of “Hold” and an average target price of $8.33.

Red Robin Gourmet Burgers Price Performance

Shares of NASDAQ:RRGB opened at $10.14 on Thursday. The company has a market capitalization of $191.69 million, a PE ratio of -6.00 and a beta of 2.40. The business has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $4.91. Red Robin Gourmet Burgers has a 1 year low of $2.45 and a 1 year high of $10.95.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $277.64 million for the quarter, compared to analysts’ expectations of $268.56 million. Sell-side analysts anticipate that Red Robin Gourmet Burgers will post -0.5 earnings per share for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds have recently made changes to their positions in the company. Simcoe Capital LLC bought a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at about $1,989,000. Pacific Ridge Capital Partners LLC lifted its holdings in Red Robin Gourmet Burgers by 8.8% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock valued at $5,623,000 after purchasing an additional 112,526 shares during the last quarter. Hsbc Holdings PLC bought a new position in Red Robin Gourmet Burgers during the second quarter worth about $96,000. PDT Partners LLC bought a new position in Red Robin Gourmet Burgers during the second quarter worth about $327,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Red Robin Gourmet Burgers in the second quarter worth about $126,000. 84.04% of the stock is currently owned by institutional investors.

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.