Zacks Research Downgrades Red Robin Gourmet Burgers (NASDAQ:RRGB) to Hold

Red Robin Gourmet Burgers (NASDAQ:RRGB) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on RRGB. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Wednesday, October 8th. Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Red Robin Gourmet Burgers in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Red Robin Gourmet Burgers currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Red Robin Gourmet Burgers Stock Down 2.5%

NASDAQ:RRGB traded down $0.12 on Thursday, reaching $4.69. The stock had a trading volume of 332,821 shares, compared to its average volume of 510,667. Red Robin Gourmet Burgers has a 1-year low of $2.50 and a 1-year high of $7.89. The stock has a fifty day moving average price of $6.37 and a 200-day moving average price of $5.56. The company has a market capitalization of $84.00 million, a P/E ratio of -1.38 and a beta of 2.55.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.51. The firm had revenue of $283.70 million for the quarter, compared to analyst estimates of $279.17 million. Red Robin Gourmet Burgers has set its FY 2025 guidance at EPS. Sell-side analysts predict that Red Robin Gourmet Burgers will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Red Robin Gourmet Burgers

In other Red Robin Gourmet Burgers news, Director Christopher Ross Martin acquired 34,649 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $6.29 per share, for a total transaction of $217,942.21. Following the acquisition, the director directly owned 1,667,906 shares in the company, valued at $10,491,128.74. This represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.64% of the company’s stock.

Institutional Trading of Red Robin Gourmet Burgers

A number of institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Red Robin Gourmet Burgers during the 1st quarter worth approximately $49,000. Pacific Ridge Capital Partners LLC raised its stake in Red Robin Gourmet Burgers by 7.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,148,813 shares of the restaurant operator’s stock worth $4,090,000 after buying an additional 79,181 shares during the period. Bandera Partners LLC boosted its holdings in Red Robin Gourmet Burgers by 270.2% in the first quarter. Bandera Partners LLC now owns 850,000 shares of the restaurant operator’s stock worth $3,026,000 after acquiring an additional 620,402 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Red Robin Gourmet Burgers by 4.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 93,985 shares of the restaurant operator’s stock valued at $335,000 after acquiring an additional 4,140 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at $37,000. Institutional investors own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

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.