Craig Hallum Begins Coverage on Red Robin Gourmet Burgers (NASDAQ:RRGB)

Equities researchers 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 price objective indicates a potential upside of 207.69% from the company’s current price.

A number of other brokerages have also commented on RRGB. StockNews.com lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research note 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 note on Monday, April 15th.

Red Robin Gourmet Burgers Trading Down 1.5 %

Shares of NASDAQ RRGB opened at $6.50 on Thursday. The firm has a fifty day simple moving average of $7.26 and a two-hundred day simple moving average of $9.01. The firm has a market capitalization of $101.40 million, a PE ratio of -4.85 and a beta of 2.83. Red Robin Gourmet Burgers has a 12 month low of $5.56 and a 12 month high of $16.50.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data 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). The firm had revenue of $309.00 million for the quarter, compared to the consensus estimate 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%. On average, sell-side analysts predict that Red Robin Gourmet Burgers will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently made changes to their positions in RRGB. First Eagle Investment Management LLC lifted its position in Red Robin Gourmet Burgers by 70.9% during the third quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator’s stock valued at $6,075,000 after purchasing an additional 313,373 shares in the last quarter. Raymond James & Associates grew its stake in shares of 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 acquiring an additional 5,900 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in Red Robin Gourmet Burgers by 15.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 518,237 shares of the restaurant operator’s stock worth $4,167,000 after acquiring an additional 69,514 shares in the last quarter. Victory Capital Management Inc. raised its stake 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 worth $481,000 after acquiring an additional 2,267 shares during the period. Finally, AdvisorShares Investments LLC bought a new position in shares of Red Robin Gourmet Burgers in the third quarter worth approximately $90,000. 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.