Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Break Above 200-Day Moving Average - Here's What Happened

Key Points

• Red Robin shares broke above their 200-day moving average, reaching $9.43 before closing at $8.81, compared with the $6.40 long-term average.
• Analyst sentiment remains mixed: Benchmark raised its target to $10 with a Buy rating, while other firms issued Hold or Sell views. The overall consensus is Hold, with an $8.33 target price.
• The company reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding analysts’ revenue expectations of $268.56 million; institutional investors own approximately 84.04% of the stock.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $6.40 and traded as high as $9.43. Red Robin Gourmet Burgers shares last traded at $8.81, with a volume of 152,306 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on RRGB. Benchmark raised their price target on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Zacks Research lowered Red Robin Gourmet Burgers from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded Red Robin Gourmet Burgers from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Red Robin Gourmet Burgers has a consensus rating of "Hold" and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Performance

The firm has a market capitalization of $166.51 million, a PE ratio of -5.21 and a beta of 2.49. The business's fifty day simple moving average is $8.46 and its 200-day simple moving average is $6.40.

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

Institutional Trading of Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new stake in Red Robin Gourmet Burgers in the 2nd quarter worth $96,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter valued at about $126,000. NewEdge Advisors LLC bought a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter valued at about $160,000. MB Generational Wealth LLC bought a new position in shares of Red Robin Gourmet Burgers during the 1st quarter valued at about $59,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Red Robin Gourmet Burgers by 66.1% during 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. 84.04% of the stock is currently owned by institutional investors.

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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