Red Robin Gourmet Burgers (NASDAQ:RRGB) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Red Robin shares rose above their 200-day moving average of $5.31, reaching as high as $10.36 before last trading at $9.42 on volume of 297,523 shares.
• Analyst sentiment remains mixed: Benchmark upgraded the stock to “buy” with a $10 target, while the consensus rating is “Hold” with an average target price of $8.33.
• The company reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding analysts’ $268.56 million estimate; institutional investors own 84.04% of the stock.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.31 and traded as high as $10.36. Red Robin Gourmet Burgers shares last traded at $9.42, with a volume of 297,523 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group set a $8.00 target price on Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a report on Friday, July 17th. Wall Street Zen raised shares of Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Benchmark boosted their target price on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Red Robin Gourmet Burgers presently has a consensus rating of "Hold" and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Down 6.6%

The stock has a market capitalization of $178.04 million, a PE ratio of -5.57 and a beta of 2.40. The firm has a 50 day moving average price of $7.86 and a 200-day moving average price of $5.31.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 EPS for the quarter. The firm had revenue of $277.64 million during the quarter, compared to analysts' expectations of $268.56 million. Equities analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Red Robin Gourmet Burgers by 503.0% during the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator's stock valued at $31,000 after purchasing an additional 4,487 shares during the period. Jain Global LLC acquired a new stake in Red Robin Gourmet Burgers during the 4th quarter worth about $47,000. Osaic Holdings Inc. raised its stake in shares of Red Robin Gourmet Burgers by 152.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator's stock valued at $58,000 after buying an additional 6,075 shares during the last quarter. MB Generational Wealth LLC purchased a new position in Red Robin Gourmet Burgers in the 1st quarter valued at $59,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Red Robin Gourmet Burgers during the 1st quarter worth $61,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Red Robin Gourmet Burgers Company Profile

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.

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