Red Robin Gourmet Burgers (NASDAQ:RRGB) Research Coverage Started at Lake Street Capital

Stock analysts at Lake Street Capital began coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a report issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $16.00 price target on the restaurant operator’s stock. Lake Street Capital’s target price points to a potential upside of 110.53% from the company’s current price.

RRGB has been the subject of several other reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. StockNews.com downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Craig Hallum assumed coverage on Red Robin Gourmet Burgers in a research report on Thursday, April 25th. They issued a “buy” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.75.

Red Robin Gourmet Burgers Stock Performance

Shares of Red Robin Gourmet Burgers stock opened at $7.60 on Tuesday. The stock has a 50 day moving average of $7.08 and a 200 day moving average of $9.02. Red Robin Gourmet Burgers has a fifty-two week low of $5.56 and a fifty-two week high of $16.50. The firm has a market capitalization of $118.56 million, a price-to-earnings ratio of -5.67 and a beta of 2.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly 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). The company had revenue of $309.00 million during the quarter, compared to analysts’ expectations of $304.73 million. Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. Analysts forecast that Red Robin Gourmet Burgers will post -1.66 EPS for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in Red Robin Gourmet Burgers by 122.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 1,435 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Red Robin Gourmet Burgers by 3.9% in the third quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock valued at $481,000 after acquiring an additional 2,267 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Red Robin Gourmet Burgers by 57.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock valued at $85,000 after purchasing an additional 2,491 shares in the last quarter. Raymond James & Associates lifted its position in shares of Red Robin Gourmet Burgers by 12.7% during the third quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock worth $421,000 after purchasing an additional 5,900 shares during the last quarter. Finally, RK Capital Management LLC grew its stake in Red Robin Gourmet Burgers by 1.6% in the fourth quarter. RK Capital Management LLC now owns 397,000 shares of the restaurant operator’s stock worth $4,951,000 after purchasing an additional 6,100 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.