Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Red Robin shares rose above their 50-day moving average, trading as high as $8.99 versus a 50-day average of $8.36. The stock’s 200-day moving average is $5.79.
• Analyst sentiment is mixed: two analysts rate the stock Buy and two rate it Sell, resulting in an overall Hold rating and an average price target of $8.33.
• Red Robin reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding analysts’ revenue estimate of $268.56 million, although analysts expect a full-year loss of $0.63 per share.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $8.36 and traded as high as $8.99. Red Robin Gourmet Burgers shares last traded at $8.99, with a volume of 158,104 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on RRGB shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, October 15th. Benchmark boosted their price objective 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. Wall Street Zen upgraded Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Red Robin Gourmet Burgers from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.33.

Red Robin Gourmet Burgers Stock Performance

The business has a 50-day moving average price of $8.36 and a 200 day moving average price of $5.79. The stock has a market capitalization of $169.95 million, a P/E ratio of -5.32 and a beta of 2.49.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The company had revenue of $277.64 million during the quarter, compared to analysts' expectations of $268.56 million. As a group, research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC grew its position in Red Robin Gourmet Burgers by 55.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 42,175 shares of the restaurant operator's stock valued at $319,000 after purchasing an additional 15,000 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at about $160,000. Hsbc Holdings PLC bought a new stake in Red Robin Gourmet Burgers during the 2nd quarter valued at about $96,000. Wellington Management Group LLP purchased a new position in Red Robin Gourmet Burgers in the second quarter worth about $2,778,000. Finally, Lotus Technology Management LP purchased a new position in Red Robin Gourmet Burgers in the second quarter worth about $305,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc NASDAQ: RRGB operates and franchises full-service casual dining restaurants under the Red Robin Gourmet Burgers and Brews brand. The company is known for its gourmet burgers, including customizable burger offerings, and provides a family-oriented dining experience.

Red Robin restaurants serve a broad menu that includes burgers, chicken sandwiches, wraps, salads, appetizers, entrees, desserts, milkshakes and other beverages. Many locations also offer takeout, delivery and catering services, allowing the company to serve customers both in its restaurants and through off-premise channels.

Red Robin traces its history to 1969, when its first restaurant opened in Seattle, Washington.

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