Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Red Robin Gourmet Burgers (NASDAQ:RRGB) moved above its 200-day moving average, trading as high as $7.36 and last at $7.03, which may signal improving technical momentum.
• Analyst sentiment is mixed: UBS set an $8 price target and Benchmark reiterated a buy rating, while other firms issued sell ratings. Overall, MarketBeat shows a Hold consensus with a $7.67 target.
• The company’s latest earnings showed EPS of $0.13, below estimates of $0.21, even though revenue of $378.26 million topped expectations. Analysts expect the company to post a loss for the current fiscal year.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.34 and traded as high as $7.36. Red Robin Gourmet Burgers shares last traded at $7.03, with a volume of 140,545 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group set a $8.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Benchmark restated a "buy" rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Red Robin Gourmet Burgers from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.67.

Red Robin Gourmet Burgers Trading Down 0.4%

The firm has a market cap of $130.06 million, a P/E ratio of -4.69 and a beta of 2.38. The business has a 50-day moving average price of $5.45 and a 200-day moving average price of $4.34.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The company had revenue of $378.26 million during the quarter, compared to analysts' expectations of $273.29 million. On average, equities analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of hedge funds and other institutional investors have recently modified their holdings of RRGB. Simcoe Capital LLC purchased a new stake in Red Robin Gourmet Burgers during the fourth quarter valued at approximately $1,989,000. JPMorgan Chase & Co. grew its holdings in Red Robin Gourmet Burgers by 5,671.8% in the second quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator's stock worth $770,000 after purchasing an additional 130,736 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Red Robin Gourmet Burgers by 8.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator's stock worth $5,623,000 after purchasing an additional 112,526 shares during the last quarter. Mink Brook Asset Management LLC increased its position in shares of Red Robin Gourmet Burgers by 15.4% during the fourth quarter. Mink Brook Asset Management LLC now owns 530,345 shares of the restaurant operator's stock worth $2,148,000 after purchasing an additional 70,893 shares in the last quarter. Finally, GatePass Capital LLC increased its position in shares of Red Robin Gourmet Burgers by 89.7% during the fourth quarter. GatePass Capital LLC now owns 148,000 shares of the restaurant operator's stock worth $599,000 after purchasing an additional 70,000 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, 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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