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

Lake Street Capital began coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $16.00 price objective on the restaurant operator’s stock.

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

Red Robin Gourmet Burgers Stock Performance

NASDAQ:RRGB opened at $7.32 on Tuesday. Red Robin Gourmet Burgers has a 12-month low of $5.56 and a 12-month high of $16.50. The company’s 50-day moving average is $6.96 and its two-hundred day moving average is $9.00.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings data 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 firm had revenue of $309.00 million for 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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RRGB. Tower Research Capital LLC TRC grew its stake in 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 during the period. PNC Financial Services Group Inc. boosted its position 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 worth $85,000 after purchasing an additional 2,491 shares during the period. AdvisorShares Investments LLC acquired a new stake in Red Robin Gourmet Burgers in the 3rd quarter valued at $90,000. BNP Paribas Financial Markets raised its position in Red Robin Gourmet Burgers by 48.0% in the first quarter. BNP Paribas Financial Markets now owns 37,259 shares of the restaurant operator’s stock valued at $285,000 after purchasing an additional 12,082 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Red Robin Gourmet Burgers during the third quarter worth about $315,000. Hedge funds and other 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.