Red Robin Gourmet Burgers (NASDAQ:RRGB) Earns “Buy” Rating from Benchmark

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

Red Robin Gourmet Burgers Price Performance

RRGB opened at $6.00 on Monday. The stock has a market capitalization of $93.62 million, a price-to-earnings ratio of -4.48 and a beta of 2.83. The business has a fifty day moving average price of $7.57 and a 200 day moving average price of $9.04. Red Robin Gourmet Burgers has a 12 month low of $5.56 and a 12 month high of $16.50.

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

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its holdings in Red Robin Gourmet Burgers by 11.2% in the first quarter. Citigroup Inc. now owns 13,004 shares of the restaurant operator’s stock valued at $219,000 after buying an additional 1,309 shares during the last quarter. Rhumbline Advisers boosted its holdings in Red Robin Gourmet Burgers by 7.9% in the third quarter. Rhumbline Advisers now owns 19,280 shares of the restaurant operator’s stock valued at $155,000 after purchasing an additional 1,417 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Red Robin Gourmet Burgers by 122.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 1,435 shares during the last quarter. Geode Capital Management LLC increased its stake in Red Robin Gourmet Burgers by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 160,322 shares of the restaurant operator’s stock valued at $894,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Red Robin Gourmet Burgers by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,549 shares of the restaurant operator’s stock worth $228,000 after buying an additional 1,671 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.