Lake Street Capital Initiates Coverage on Red Robin Gourmet Burgers (NASDAQ:RRGB)

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

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

Red Robin Gourmet Burgers Price Performance

RRGB stock traded down $0.20 during mid-day trading on Tuesday, reaching $7.32. 138,178 shares of the company traded hands, compared to its average volume of 324,230. The company has a market capitalization of $114.19 million, a P/E ratio of -5.46 and a beta of 2.79. Red Robin Gourmet Burgers has a 52-week low of $5.56 and a 52-week high of $16.50. The company has a fifty day moving average price of $6.96 and a 200-day moving average price of $9.00.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results 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). Red Robin Gourmet Burgers had a negative net margin of 1.61% and a negative return on equity of 17,823.75%. The company had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $304.73 million. As a group, analysts forecast that Red Robin Gourmet Burgers will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates boosted its stake in shares of Red Robin Gourmet Burgers by 12.7% during the third quarter. Raymond James & Associates now owns 52,325 shares of the restaurant operator’s stock valued at $421,000 after purchasing an additional 5,900 shares during the period. Acuitas Investments LLC boosted its stake in shares of Red Robin Gourmet Burgers by 12.3% during the third quarter. Acuitas Investments LLC now owns 360,397 shares of the restaurant operator’s stock valued at $2,898,000 after purchasing an additional 39,363 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Red Robin Gourmet Burgers by 3.9% during the third quarter. Victory Capital Management Inc. now owns 59,800 shares of the restaurant operator’s stock valued at $481,000 after purchasing an additional 2,267 shares during the period. AdvisorShares Investments LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the third quarter valued at approximately $90,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of 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 during the period. 84.04% of the stock is currently owned by institutional investors.

About Red Robin Gourmet Burgers

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.