Red Robin Gourmet Burgers (NASDAQ:RRGB) Receives New Coverage from Analysts at Craig Hallum

Investment analysts at Craig Hallum started coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $20.00 price target on the restaurant operator’s stock. Craig Hallum’s price target points to a potential upside of 185.31% from the stock’s previous close.

Several other equities research analysts also recently issued reports on RRGB. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Red Robin Gourmet Burgers in a report on Monday, April 15th. StockNews.com cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th.

Red Robin Gourmet Burgers Trading Up 1.6 %

Red Robin Gourmet Burgers stock opened at $7.01 on Thursday. Red Robin Gourmet Burgers has a 1 year low of $5.56 and a 1 year high of $16.50. The firm has a market capitalization of $109.36 million, a P/E ratio of -5.23 and a beta of 2.83. The business has a 50-day moving average of $7.13 and a 200-day moving average of $8.99.

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

Institutional Inflows and Outflows

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

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.