Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Receives Consensus Recommendation of “Hold” from Brokerages

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has been assigned an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.6667.

RRGB has been the subject of several research reports. Jefferies Financial Group upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Monday, December 15th. Benchmark restated a “buy” rating on shares of Red Robin Gourmet Burgers in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Thursday, January 22nd. Finally, Zacks Research lowered Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC lifted its stake in shares of Red Robin Gourmet Burgers by 8.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock valued at $5,623,000 after purchasing an additional 112,526 shares during the period. Bandera Partners LLC increased its holdings in Red Robin Gourmet Burgers by 58.8% in the second quarter. Bandera Partners LLC now owns 1,350,000 shares of the restaurant operator’s stock valued at $7,816,000 after buying an additional 500,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Red Robin Gourmet Burgers by 1.4% in the third quarter. Vanguard Group Inc. now owns 752,809 shares of the restaurant operator’s stock worth $5,164,000 after acquiring an additional 10,735 shares during the period. Simcoe Capital LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter worth about $1,989,000. Finally, Mink Brook Asset Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter worth about $3,152,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Price Performance

Shares of RRGB opened at $3.72 on Tuesday. The company’s fifty day moving average price is $4.03 and its 200-day moving average price is $5.30. Red Robin Gourmet Burgers has a 1-year low of $2.50 and a 1-year high of $7.89. The firm has a market capitalization of $66.81 million, a PE ratio of -1.15 and a beta of 2.32.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Monday, November 10th. The restaurant operator reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.08. The firm had revenue of $265.13 million for the quarter, compared to analyst estimates of $256.75 million. As a group, research analysts anticipate that Red Robin Gourmet Burgers will post -2.94 EPS for the current fiscal year.

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.