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

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has received an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.6667.

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

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB stock opened at $4.07 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 market cap of $73.10 million, a price-to-earnings ratio of -1.26 and a beta of 2.23. The firm’s 50-day moving average is $4.19 and its 200-day moving average is $5.61.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Monday, November 10th. The restaurant operator reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.08. The business had revenue of $265.13 million for the quarter, compared to analyst estimates of $256.75 million. Sell-side analysts predict that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Red Robin Gourmet Burgers by 503.0% during the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 4,487 shares during the period. Osaic Holdings Inc. lifted its holdings in Red Robin Gourmet Burgers by 152.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after purchasing an additional 6,075 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Red Robin Gourmet Burgers during the 1st quarter worth approximately $61,000. Jane Street Group LLC bought a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at $69,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Red Robin Gourmet Burgers in the 3rd quarter valued at $70,000. 84.04% of the stock is owned by institutional investors.

About Red Robin Gourmet Burgers

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.