Todd Brooks, an analyst from Benchmark Co., maintained the Buy rating on Red Robin Gourmet (RRGB – Research Report). The associated price target is $12.00.
Todd Brooks has given his Buy rating due to a combination of factors including the recent positive developments at Red Robin Gourmet. The company has announced a CEO transition, with David Pace taking over the role, who brings extensive experience in the restaurant industry. This leadership change is expected to maintain and enhance the operational and culinary improvements achieved under the North Star brand transformation plan.
Additionally, Red Robin has preannounced that its AEBITDA results for the first quarter of 2025 are expected to surpass previous guidance, indicating strong financial performance. The company has also shown consistent improvement in traffic trends and AEBITDA generation over the past quarters. These factors, along with the company’s strategic focus on marketing and brand revitalization, support the Buy rating and the maintained price target of $12 per share.
Brooks covers the Consumer Cyclical sector, focusing on stocks such as Cracker Barrel, Domino’s Pizza, and Texas Roadhouse. According to TipRanks, Brooks has an average return of -8.1% and a 32.56% success rate on recommended stocks.
In another report released on April 25, Craig-Hallum also reiterated a Buy rating on the stock with a $11.00 price target.