Red Robin price target lowered to $8.50 from $11.50 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin lowered the firm’s price target on Red Robin (RRGB) to $8.50 from $11.50 and keeps a Buy rating on the shares. While Red Robin delivered solid same-store sales and total sales upside in Q3, the company generated disappointing margins with both labor costs and G&A expense higher than expected, the firm says.