Red Robin Gourmet Burgers (NASDAQ:RRGB) Rating Lowered to Strong Sell at Zacks Research

Red Robin Gourmet Burgers (NASDAQ:RRGB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

RRGB has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. Benchmark lifted their price objective on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Down 1.7%

Shares of RRGB stock opened at $8.22 on Tuesday. Red Robin Gourmet Burgers has a 12 month low of $2.45 and a 12 month high of $10.95. The company’s fifty day simple moving average is $8.37 and its 200-day simple moving average is $6.15. The firm has a market cap of $155.36 million, a PE ratio of -4.86 and a beta of 2.49.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The business had revenue of $277.64 million during the quarter, compared to the consensus estimate of $268.56 million. On average, equities analysts predict that Red Robin Gourmet Burgers will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $2,778,000. BlackRock Inc. acquired a new stake in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $2,382,000. Western Standard LLC bought a new position in Red Robin Gourmet Burgers in the second quarter valued at approximately $706,000. PDT Partners LLC bought a new position in Red Robin Gourmet Burgers in the second quarter valued at approximately $327,000. Finally, Lotus Technology Management LP acquired a new position in Red Robin Gourmet Burgers during the second quarter valued at approximately $305,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc (NASDAQ: RRGB) is a casual dining restaurant company known for its gourmet burgers and family-friendly dining experience. Its menu includes a variety of burgers, chicken sandwiches, salads, appetizers, entrées, desserts, milkshakes and beverages, along with its signature bottomless steak fries.

The company operates restaurants under the Red Robin name through a combination of company-owned and franchised locations. Its restaurants primarily serve customers in the United States, with a presence in Canada through franchised operations.