Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other analysts have also recently issued reports on RRGB. Benchmark restated a “buy” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. UBS Group set a $8.00 target price on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.67.

Red Robin Gourmet Burgers Trading Up 0.4%

Red Robin Gourmet Burgers stock opened at $7.84 on Friday. The firm has a 50 day moving average of $6.25 and a 200 day moving average of $4.60. The firm has a market capitalization of $145.04 million, a price-to-earnings ratio of -5.23 and a beta of 2.38. Red Robin Gourmet Burgers has a 12-month low of $2.45 and a 12-month high of $8.26.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The business had revenue of $378.26 million for the quarter, compared to the consensus estimate of $273.29 million. On average, analysts predict that Red Robin Gourmet Burgers will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Red Robin Gourmet Burgers by 66.1% in the first quarter. Dimensional Fund Advisors LP now owns 35,015 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 13,929 shares in the last quarter. MB Generational Wealth LLC purchased a new stake in Red Robin Gourmet Burgers during the first quarter valued at $59,000. JCP Investment Management LLC raised its stake in Red Robin Gourmet Burgers by 0.6% during the fourth quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock valued at $7,579,000 after purchasing an additional 10,567 shares in the last quarter. Jain Global LLC bought a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $47,000. Finally, Squarepoint Ops LLC bought a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $71,000. 84.04% of the stock is currently owned by institutional investors.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.