Red Robin Gourmet Burgers (NASDAQ:RRGB) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $20.00 price target on the restaurant operator's stock. Craig Hallum's target price suggests a potential upside of 189.86% from the company's current price.

A number of other analysts have also issued reports on the stock. Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Red Robin Gourmet Burgers in a research note on Monday, April 15th. 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.

Red Robin Gourmet Burgers Stock Up 6.2 %

Shares of RRGB traded up $0.40 during mid-day trading on Thursday, reaching $6.90. 629,753 shares of the stock traded hands, compared to its average volume of 322,775. The firm has a market cap of $107.64 million, a price-to-earnings ratio of -5.16 and a beta of 2.83. The stock has a fifty day simple moving average of $7.26 and a 200 day simple moving average of $9.01. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The restaurant operator reported ($0.66) earnings per share (EPS) 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 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%. On average, equities research analysts expect that Red Robin Gourmet Burgers will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently made changes to their positions in RRGB. Tower Research Capital LLC TRC raised its position in Red Robin Gourmet Burgers by 122.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator's stock worth $33,000 after acquiring an additional 1,435 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Red Robin Gourmet Burgers by 57.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator's stock worth $85,000 after acquiring an additional 2,491 shares in 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 acquired a new stake in Red Robin Gourmet Burgers during the 3rd quarter worth about $315,000. Finally, Raymond James & Associates raised its holdings in 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 period. 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.