Red Robin Gourmet Burgers’ (RRGB) “Buy” Rating Reiterated at Benchmark

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

Red Robin Gourmet Burgers Trading Up 1.5 %

RRGB opened at $7.66 on Tuesday. The business’s 50 day moving average is $8.67 and its two-hundred day moving average is $9.27. Red Robin Gourmet Burgers has a 52 week low of $6.11 and a 52 week high of $16.50. The company has a quick ratio of 0.35, a current ratio of 0.49 and a debt-to-equity ratio of 62.16. The firm has a market cap of $119.04 million, a price-to-earnings ratio of -5.72 and a beta of 2.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results 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 net margin of 1.61% and a negative return on equity of 17,823.75%. The company 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 -1.48 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Red Robin Gourmet Burgers by 121.7% in the first quarter. JPMorgan Chase & Co. now owns 83,528 shares of the restaurant operator’s stock worth $1,408,000 after purchasing an additional 45,852 shares during the period. Raymond James & Associates acquired a new position in Red Robin Gourmet Burgers during the first quarter worth $172,000. Bank of New York Mellon Corp grew its position in shares of Red Robin Gourmet Burgers by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 160,532 shares of the restaurant operator’s stock valued at $2,706,000 after purchasing an additional 10,489 shares during the last quarter. Citigroup Inc. lifted its stake in shares of 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 period. Finally, MetLife Investment Management LLC lifted its stake in Red Robin Gourmet Burgers by 366.4% during the first quarter. MetLife Investment Management LLC now owns 8,965 shares of the restaurant operator’s stock worth $151,000 after purchasing an additional 7,043 shares during the period. 84.04% of the stock is owned by 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.