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

Key Points

• Red Robin shares crossed above their 200-day moving average, reaching $7.55 and last trading at $7.46, compared with a 200-day average of $5.92.
• Analyst views remain mixed: Benchmark raised its price target to $10 and issued a buy rating, while others maintained hold or sell ratings. The consensus rating is Hold, with an average price target of $8.33.
• The company reported quarterly EPS of $0.12 and revenue of $277.64 million, exceeding analysts’ revenue expectations of $268.56 million. Institutional investors and hedge funds own approximately 84.04% of the stock.

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.92 and traded as high as $7.55. Red Robin Gourmet Burgers shares last traded at $7.46, with a volume of 158,007 shares traded.

Analysts Set New Price Targets

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

Red Robin Gourmet Burgers Stock Performance

The business has a 50-day moving average of $8.29 and a 200-day moving average of $5.92. The stock has a market capitalization of $140.99 million, a price-to-earnings ratio of -4.41 and a beta of 2.44.

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 company had revenue of $277.64 million during the quarter, compared to analysts' expectations of $268.56 million. Equities analysts predict that Red Robin Gourmet Burgers, Inc. will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $96,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Red Robin Gourmet Burgers in the second quarter valued at approximately $126,000. NewEdge Advisors LLC purchased a new stake in Red Robin Gourmet Burgers in the second quarter valued at approximately $160,000. MB Generational Wealth LLC acquired a new position in Red Robin Gourmet Burgers during the first quarter worth $59,000. Finally, AdvisorShares Investments LLC lifted its stake in Red Robin Gourmet Burgers by 10.4% during the fourth quarter. AdvisorShares Investments LLC now owns 29,146 shares of the restaurant operator's stock worth $118,000 after purchasing an additional 2,746 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc is a casual-dining restaurant company that operates the Red Robin Gourmet Burgers brand. The company is known for made-to-order gourmet burgers, including beef, chicken, turkey and plant-based options, along with Bottomless Steak Fries, sandwiches, salads, appetizers, entrees, desserts, beverages and children's meals.

Founded in 1969 in Seattle, Washington, Red Robin has developed into a full-service restaurant chain serving guests primarily in the United States, with operations supported by a combination of company-owned and franchised locations.

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