Red Robin Gourmet Burgers (NASDAQ:RRGB) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a hold rating to a sell rating in a research report report published on Saturday morning.

Separately, CL King upgraded Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.38.

Red Robin Gourmet Burgers Stock Performance

NASDAQ RRGB opened at $4.52 on Friday. The company has a market cap of $78.95 million, a P/E ratio of -1.37 and a beta of 2.70. The business’s 50 day moving average price is $5.44 and its 200-day moving average price is $5.10. Red Robin Gourmet Burgers has a fifty-two week low of $2.97 and a fifty-two week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.20 million. During the same period in the prior year, the firm posted ($0.66) EPS. As a group, equities analysts predict that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in shares of Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator’s stock worth $2,800,000 after buying an additional 526,016 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter worth $34,000. Verition Fund Management LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter worth $1,082,000. PDT Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 159.5% in the 3rd quarter. PDT Partners LLC now owns 151,360 shares of the restaurant operator’s stock worth $667,000 after buying an additional 93,040 shares during the period. Finally, Wolverine Trading LLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.