Red Robin Gourmet Burgers (NASDAQ:RRGB) Rating Lowered to “Sell” at Wall Street Zen

Red Robin Gourmet Burgers (NASDAQ:RRGB) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts also recently issued reports on the company. Benchmark decreased their price target on Red Robin Gourmet Burgers from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Tuesday, April 21st. 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 stock. According to data from MarketBeat.com, Red Robin Gourmet Burgers has an average rating of “Hold” and a consensus target price of $7.50.

Red Robin Gourmet Burgers Price Performance

Shares of RRGB opened at $3.77 on Friday. The firm has a market cap of $68.39 million, a price-to-earnings ratio of -2.88 and a beta of 2.36. The company’s fifty day moving average is $3.52 and its 200-day moving average is $3.91. Red Robin Gourmet Burgers has a 12 month low of $2.45 and a 12 month high of $7.89.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.13). The company had revenue of $269.04 million for the quarter, compared to analyst estimates of $264.26 million. As a group, research analysts predict that Red Robin Gourmet Burgers will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of institutional investors have recently made changes to their positions in RRGB. BNP Paribas Financial Markets lifted its position in shares of Red Robin Gourmet Burgers by 503.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 4,487 shares during the last quarter. Jain Global LLC acquired a new stake in Red Robin Gourmet Burgers in the 4th quarter valued at approximately $47,000. Osaic Holdings Inc. grew its holdings in Red Robin Gourmet Burgers by 152.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 6,075 shares during the last quarter. MB Generational Wealth LLC bought a new position in Red Robin Gourmet Burgers in the 1st quarter worth approximately $59,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Red Robin Gourmet Burgers during the first quarter worth approximately $61,000. 84.04% of the stock is currently owned by institutional investors.

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.