Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded to Buy at CL King

Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by equities researchers at CL King from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Finviz reports. The firm currently has a $10.00 target price on the restaurant operator’s stock. CL King’s target price would indicate a potential upside of 121.24% from the stock’s current price.

Red Robin Gourmet Burgers Stock Performance

NASDAQ RRGB opened at $4.52 on Thursday. The company has a market capitalization of $78.61 million, a P/E ratio of -1.37 and a beta of 2.65. Red Robin Gourmet Burgers has a one year low of $2.97 and a one year high of $9.20. The stock has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.09.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.20 million. During the same period in the previous year, the company posted ($0.66) EPS. As a group, equities analysts predict that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jumana Capital Investments Llc purchased 800,454 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $4,154,356.26. Following the completion of the purchase, the insider now owns 1,614,906 shares in the company, valued at approximately $8,381,362.14. This represents a 98.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Red Robin Gourmet Burgers in the third quarter worth about $34,000. R Squared Ltd acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth about $52,000. Wolverine Trading LLC acquired a new stake in Red Robin Gourmet Burgers in the third quarter worth about $55,000. Raymond James Financial Inc. acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth about $63,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth about $64,000. Institutional investors own 84.04% of the company’s stock.

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.