Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Rating Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Red Robin Gourmet Burgers from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with an average price target of $8.33.
• Red Robin reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding the consensus revenue estimate of $268.56 million; analysts expect a full-year loss of $0.63 per share.
• RRGB shares opened at $8.22, with a market capitalization of approximately $155.36 million and a 52-week trading range of $2.45 to $10.95. Institutional investors and hedge funds own 84.04% of the stock.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday, Zacks reports.

A number of other brokerages have also commented on RRGB. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. Benchmark boosted their target price on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Red Robin Gourmet Burgers has a consensus rating of "Hold" and an average price target of $8.33.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB opened at $8.22 on Tuesday. The firm has a market cap of $155.36 million, a P/E ratio of -4.86 and a beta of 2.49. Red Robin Gourmet Burgers has a 52 week low of $2.45 and a 52 week high of $10.95. The firm's 50-day simple moving average is $8.37 and its 200 day simple moving average is $6.15.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $277.64 million for the quarter, compared to the consensus estimate of $268.56 million. As a group, equities analysts forecast that Red Robin Gourmet Burgers will post -0.63 earnings per share for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new position in Red Robin Gourmet Burgers in the second quarter valued at about $160,000. Hsbc Holdings PLC bought a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $96,000. Wellington Management Group LLP bought a new position in Red Robin Gourmet Burgers in the 2nd quarter valued at about $2,778,000. Lotus Technology Management LP acquired a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $305,000. Finally, PDT Partners LLC acquired a new position in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $327,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc NASDAQ: RRGB is a casual dining restaurant company known for its gourmet burgers and family-friendly dining experience. Its menu includes a variety of burgers, chicken sandwiches, salads, appetizers, entrées, desserts, milkshakes and beverages, along with its signature bottomless steak fries.

The company operates restaurants under the Red Robin name through a combination of company-owned and franchised locations. Its restaurants primarily serve customers in the United States, with a presence in Canada through franchised operations.

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