Red Robin Gourmet Burgers (NASDAQ:RRGB) Given New $17.00 Price Target at Lake Street Capital

Red Robin Gourmet Burgers (NASDAQ:RRGBFree Report) had its price objective upped by Lake Street Capital from $16.00 to $17.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts have also weighed in on the stock. 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. Craig Hallum initiated coverage on shares of Red Robin Gourmet Burgers in a research note on Thursday, April 25th. They issued a buy rating and a $20.00 price target on the stock. Finally, Benchmark reaffirmed a buy rating and issued a $18.00 price target on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Red Robin Gourmet Burgers presently has a consensus rating of Hold and a consensus target price of $16.00.

Read Our Latest Stock Analysis on Red Robin Gourmet Burgers

Red Robin Gourmet Burgers Stock Up 14.9 %

RRGB stock opened at $7.73 on Thursday. The company’s 50-day simple moving average is $6.97 and its 200-day simple moving average is $8.86. Red Robin Gourmet Burgers has a 52-week low of $5.56 and a 52-week high of $15.76. The firm has a market cap of $120.59 million, a P/E ratio of -5.77 and a beta of 2.79.

Red Robin Gourmet Burgers (NASDAQ:RRGBGet Free Report) last posted 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 for the quarter, compared to analysts’ expectations 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, analysts anticipate that Red Robin Gourmet Burgers will post -1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, major shareholder Archon Capital Management Llc sold 100,200 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $6.85, for a total value of $686,370.00. Following the completion of the sale, the insider now owns 1,551,587 shares in the company, valued at approximately $10,628,370.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.19% of the stock is owned by insiders.

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC increased its holdings in shares of Red Robin Gourmet Burgers by 23.0% during 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. First Eagle Investment Management LLC increased its holdings in shares of Red Robin Gourmet Burgers by 70.9% during 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. Raymond James & Associates increased its holdings 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 worth $421,000 after buying an additional 5,900 shares during the last quarter. Panagora Asset Management Inc. increased its holdings 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 worth $559,000 after buying an additional 11,730 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Red Robin Gourmet Burgers by 4.6% during the 4th quarter. Victory Capital Management Inc. now owns 62,550 shares of the restaurant operator’s stock worth $780,000 after buying an additional 2,750 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

(Get Free Report)

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.

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