Red Robin Gourmet Burgers (NASDAQ:RRGB) Coverage Initiated by Analysts at Lake Street Capital

Stock analysts at Lake Street Capital began coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $16.00 price target on the restaurant operator’s stock. Lake Street Capital’s price objective indicates a potential upside of 112.20% from the stock’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Red Robin Gourmet Burgers in a research report on Monday, April 15th. Finally, Craig Hallum initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Thursday, April 25th. They set a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.75.

Red Robin Gourmet Burgers Price Performance

NASDAQ RRGB opened at $7.54 on Tuesday. The firm has a market capitalization of $117.62 million, a price-to-earnings ratio of -5.63 and a beta of 2.83. The company’s fifty day moving average is $7.03 and its two-hundred day moving average is $9.01. Red Robin Gourmet Burgers has a 52-week low of $5.56 and a 52-week high of $16.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The company had revenue of $309.00 million during the quarter, compared to analyst estimates of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. As a group, sell-side analysts expect that Red Robin Gourmet Burgers will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Several large investors have recently added to or reduced their stakes in RRGB. Tower Research Capital LLC TRC grew its position in Red Robin Gourmet Burgers by 122.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 1,435 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Red Robin Gourmet Burgers by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock valued at $481,000 after purchasing an additional 2,267 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Red Robin Gourmet Burgers by 57.9% during 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 increased its holdings in Red Robin Gourmet Burgers by 12.7% during the 3rd quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock valued at $421,000 after purchasing an additional 5,900 shares in the last quarter. Finally, RK Capital Management LLC increased its holdings in Red Robin Gourmet Burgers by 1.6% during the 4th quarter. RK Capital Management LLC now owns 397,000 shares of the restaurant operator’s stock valued at $4,951,000 after purchasing an additional 6,100 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Red Robin Gourmet Burgers Company Profile

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.