Wall Street Zen Upgrades Red Robin Gourmet Burgers (NASDAQ:RRGB) to “Hold”

Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently issued reports on RRGB. Benchmark restated a “buy” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. UBS Group set a $8.00 price target on shares of Red Robin Gourmet Burgers in a research report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.67.

Red Robin Gourmet Burgers Price Performance

RRGB stock opened at $7.84 on Friday. The business has a 50 day moving average price of $6.25 and a 200 day moving average price of $4.61. The stock has a market cap of $145.04 million, a price-to-earnings ratio of -5.23 and a beta of 2.40. 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) last announced its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $378.26 million for the quarter, compared to the consensus estimate of $273.29 million. As a group, sell-side analysts anticipate that Red Robin Gourmet Burgers will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRGB. Dimensional Fund Advisors LP boosted its holdings in shares of Red Robin Gourmet Burgers by 66.1% in the first quarter. Dimensional Fund Advisors LP now owns 35,015 shares of the restaurant operator’s stock valued at $102,000 after acquiring an additional 13,929 shares during the period. MB Generational Wealth LLC acquired a new position in shares of Red Robin Gourmet Burgers in the 1st quarter valued at $59,000. JCP Investment Management LLC raised its position in Red Robin Gourmet Burgers by 0.6% in the 4th quarter. JCP Investment Management LLC now owns 1,871,235 shares of the restaurant operator’s stock valued at $7,579,000 after purchasing an additional 10,567 shares during the last quarter. Jain Global LLC purchased a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at $47,000. Finally, Squarepoint Ops LLC purchased a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

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.