Red Robin Gourmet Burgers (NASDAQ:RRGB) Coverage Initiated at Craig Hallum

Investment analysts at Craig Hallum assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a report issued on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the restaurant operator’s stock. Craig Hallum’s target price indicates a potential upside of 207.69% from the company’s previous close.

RRGB has been the topic of a number of other research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Red Robin Gourmet Burgers in a research report on Monday, April 15th. StockNews.com lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Thursday, April 18th.

Red Robin Gourmet Burgers Trading Down 1.5 %

Shares of RRGB opened at $6.50 on Thursday. The firm has a 50-day moving average price of $7.26 and a 200 day moving average price of $9.01. Red Robin Gourmet Burgers has a 12-month low of $5.56 and a 12-month high of $16.50. The firm has a market capitalization of $101.40 million, a P/E ratio of -4.85 and a beta of 2.83.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of Red Robin Gourmet Burgers by 122.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock worth $33,000 after buying an additional 1,435 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Red Robin Gourmet Burgers by 57.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock worth $85,000 after acquiring an additional 2,491 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Red Robin Gourmet Burgers during the 3rd quarter worth approximately $90,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter valued at approximately $315,000. Finally, Raymond James & Associates raised its holdings in shares of Red Robin Gourmet Burgers by 12.7% in 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. 84.04% of the stock is owned by institutional investors and hedge funds.

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.