Wall Street Zen downgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB – Free Report) from a hold rating to a sell rating in a research note published on Saturday.
A number of other analysts also recently issued reports on RRGB. Benchmark dropped their price objective on shares of Red Robin Gourmet Burgers from $12.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research 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 company’s stock. Based on data from MarketBeat.com, Red Robin Gourmet Burgers has an average rating of “Hold” and a consensus target price of $7.50.
Check Out Our Latest Stock Analysis on RRGB
Red Robin Gourmet Burgers Stock Performance
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.13). The firm had revenue of $269.04 million for the quarter, compared to the consensus estimate of $264.26 million. As a group, analysts forecast that Red Robin Gourmet Burgers will post -0.43 EPS for the current fiscal year.
Hedge Funds Weigh In On Red Robin Gourmet Burgers
A number of hedge funds have recently modified their holdings of RRGB. Dynamic Technology Lab Private Ltd purchased a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at about $61,000. Goldman Sachs Group Inc. increased its position in shares of Red Robin Gourmet Burgers by 38.8% in the first quarter. Goldman Sachs Group Inc. now owns 84,625 shares of the restaurant operator’s stock valued at $301,000 after acquiring an additional 23,638 shares during the period. Jane Street Group LLC purchased a new position in shares of Red Robin Gourmet Burgers in the first quarter valued at about $69,000. JPMorgan Chase & Co. increased its position in shares of Red Robin Gourmet Burgers by 5,671.8% in the second quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock valued at $770,000 after acquiring an additional 130,736 shares during the period. Finally, XTX Topco Ltd increased its position in shares of Red Robin Gourmet Burgers by 128.7% in the second quarter. XTX Topco Ltd now owns 31,415 shares of the restaurant operator’s stock valued at $182,000 after acquiring an additional 17,679 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.
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.
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