Red Robin Gourmet Burgers (NASDAQ:RRGB) Now Covered by Craig Hallum

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

Other research analysts have also issued research reports about the company. StockNews.com lowered Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th.

Red Robin Gourmet Burgers Stock Performance

RRGB opened at $7.01 on Thursday. The stock has a market capitalization of $109.36 million, a price-to-earnings ratio of -5.23 and a beta of 2.83. The company has a fifty day moving average of $7.13 and a 200 day moving average of $8.99. Red Robin Gourmet Burgers has a fifty-two week low of $5.56 and a fifty-two week high of $16.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results 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 firm had revenue of $309.00 million for the quarter, compared to the consensus estimate of $304.73 million. On average, equities research analysts forecast that Red Robin Gourmet Burgers will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRGB. Tower Research Capital LLC TRC increased 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 valued at $33,000 after purchasing an additional 1,435 shares during the period. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 2,491 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth about $90,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at about $315,000. Finally, Panagora Asset Management Inc. raised its stake in shares of Red Robin Gourmet Burgers by 35.5% during the 4th quarter. Panagora Asset Management Inc. now owns 44,794 shares of the restaurant operator’s stock valued at $559,000 after buying an additional 11,730 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

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.