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

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has received a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.6667.

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Benchmark reaffirmed a “buy” rating on shares of Red Robin Gourmet Burgers in a research report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, December 15th.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Red Robin Gourmet Burgers by 1.5% in the second quarter. Bank of America Corp DE now owns 182,565 shares of the restaurant operator’s stock valued at $1,057,000 after purchasing an additional 2,697 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 4.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 93,985 shares of the restaurant operator’s stock worth $335,000 after purchasing an additional 4,140 shares during the period. BNP Paribas Financial Markets boosted its position in Red Robin Gourmet Burgers by 503.0% in the second quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 4,487 shares during the last quarter. Osaic Holdings Inc. increased 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 worth $58,000 after buying an additional 6,075 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Red Robin Gourmet Burgers by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,675 shares of the restaurant operator’s stock worth $972,000 after buying an additional 8,634 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Stock Performance

Shares of RRGB opened at $4.21 on Monday. The company has a 50 day moving average price of $4.81 and a 200-day moving average price of $5.76. Red Robin Gourmet Burgers has a fifty-two week low of $2.50 and a fifty-two week high of $7.89. The stock has a market capitalization of $75.61 million, a PE ratio of -1.30 and a beta of 2.21.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Monday, November 10th. The restaurant operator reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.08. The business had revenue of $265.13 million for the quarter, compared to analysts’ expectations of $256.75 million. Equities research analysts forecast that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

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.