Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) shares traded up 1.9% on Wednesday . The stock traded as high as $51.89 and last traded at $51.76, with a volume of 79,466 shares traded. The stock had previously closed at $50.79.

RRGB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Standpoint Research initiated coverage on shares of Red Robin Gourmet Burgers in a research report on Monday, August 8th. They set a “buy” rating and a $64.00 price objective on the stock. Maxim Group decreased their price objective on shares of Red Robin Gourmet Burgers from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Jefferies Group downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating and set a $55.00 price objective on the stock. in a research report on Tuesday, July 26th. Finally, TheStreet downgraded shares of Red Robin Gourmet Burgers from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $77.46.

The firm’s 50-day moving average is $49.31 and its 200-day moving average is $57.08. The company has a market capitalization of $685.08 million and a P/E ratio of 17.16.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.80 by $0.05. The firm had revenue of $305.50 million for the quarter, compared to analyst estimates of $313.63 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Red Robin Gourmet Burgers’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Red Robin Gourmet Burgers Inc. will post $3.20 EPS for the current fiscal year.

In other Red Robin Gourmet Burgers news, COO Carin Stutz acquired 960 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were acquired at an average cost of $52.20 per share, with a total value of $50,112.00. Following the acquisition, the chief operating officer now directly owns 2,218 shares of the company’s stock, valued at $115,779.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stuart B. Brown sold 5,846 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $53.15, for a total transaction of $310,714.90. Following the completion of the sale, the chief financial officer now directly owns 15,790 shares in the company, valued at $839,238.50. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Trexquant Investment LP increased its stake in Red Robin Gourmet Burgers by 30.4% in the fourth quarter. Trexquant Investment LP now owns 19,818 shares of the company’s stock valued at $1,224,000 after buying an additional 4,618 shares during the period. New York State Common Retirement Fund boosted its position in Red Robin Gourmet Burgers by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,787 shares of the company’s stock valued at $2,827,000 after buying an additional 2,226 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Red Robin Gourmet Burgers by 8.3% in the fourth quarter. Rhumbline Advisers now owns 18,461 shares of the company’s stock valued at $1,140,000 after buying an additional 1,410 shares in the last quarter.

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Company is primarily engaged in the sale of food and beverages at the Company-owned restaurants.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.