Red Robin Gourmet Burgers (NASDAQ:RRGB) Receives New Coverage from Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $16.00 target price on the restaurant operator’s stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded 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. Finally, Craig Hallum assumed coverage on Red Robin Gourmet Burgers in a research note on Thursday, April 25th. They set a buy rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $15.75.

Red Robin Gourmet Burgers Stock Performance

Shares of NASDAQ:RRGB opened at $7.55 on Tuesday. Red Robin Gourmet Burgers has a 52-week low of $5.56 and a 52-week high of $16.50. The firm has a market capitalization of $117.78 million, a P/E ratio of -5.63 and a beta of 2.83. The stock has a 50 day moving average price of $7.05 and a 200-day moving average price of $9.02.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $304.73 million. Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. On average, equities analysts forecast that Red Robin Gourmet Burgers will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently modified their holdings of RRGB. First Eagle Investment Management LLC boosted its stake in shares of Red Robin Gourmet Burgers by 70.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 755,626 shares of the restaurant operator’s stock worth $6,075,000 after buying an additional 313,373 shares during the last quarter. Fund 1 Investments LLC boosted its stake in shares of Red Robin Gourmet Burgers by 253.0% in the 4th quarter. Fund 1 Investments LLC now owns 304,429 shares of the restaurant operator’s stock worth $3,796,000 after buying an additional 218,187 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Red Robin Gourmet Burgers by 23.0% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 637,588 shares of the restaurant operator’s stock worth $7,951,000 after buying an additional 119,351 shares during the last quarter. Acuitas Investments LLC boosted its stake in shares of Red Robin Gourmet Burgers by 30.5% in the 4th quarter. Acuitas Investments LLC now owns 470,206 shares of the restaurant operator’s stock worth $5,863,000 after buying an additional 109,809 shares during the last quarter. Finally, RK Capital Management LLC boosted its stake in shares of Red Robin Gourmet Burgers by 14.1% in the 3rd quarter. RK Capital Management LLC now owns 390,900 shares of the restaurant operator’s stock worth $3,143,000 after buying an additional 48,300 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.