Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Red Robin Gourmet Burgers from “sell” to “hold.” Overall analyst sentiment is also “Hold,” with an average price target of $7.67, although ratings range from “buy” to “sell.”
• RRGB opened at $7.84, near its 52-week high of $8.26, and has risen above its 50-day and 200-day moving averages. The company’s latest quarterly EPS of $0.13 missed the $0.21 consensus estimate, while revenue reached $378.26 million.
• Institutional investors own 84.04% of the stock, with several hedge funds recently increasing positions or initiating new stakes.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on RRGB. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Red Robin Gourmet Burgers in a research report on Friday, July 17th. Finally, Benchmark reissued a "buy" rating on shares of 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. Based on data from MarketBeat.com, Red Robin Gourmet Burgers currently has an average rating of "Hold" and an average target price of $7.67.

Red Robin Gourmet Burgers Stock Performance

Red Robin Gourmet Burgers stock opened at $7.84 on Friday. The firm's fifty day moving average price is $6.25 and its 200-day moving average price is $4.60. The stock has a market cap of $145.04 million, a P/E ratio of -5.23 and a beta of 2.38. Red Robin Gourmet Burgers has a fifty-two week low of $2.45 and a fifty-two week high of $8.26.

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

Institutional Trading of Red Robin Gourmet Burgers

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted 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 buying an additional 4,487 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Red Robin Gourmet Burgers by 152.6% in the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator's stock worth $58,000 after buying an additional 6,075 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in shares of Red Robin Gourmet Burgers in the third quarter worth about $70,000. Jain Global LLC bought a new stake in shares of Red Robin Gourmet Burgers in the 4th quarter valued at about $47,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at about $76,000. 84.04% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.