Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB – Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $8.36 and traded as high as $8.99. Red Robin Gourmet Burgers shares last traded at $8.99, with a volume of 158,104 shares.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Benchmark lifted their price objective on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen raised Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Thursday, October 15th. Finally, Zacks Research lowered Red Robin Gourmet Burgers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.33.
Red Robin Gourmet Burgers Stock Down 2.4%
The company’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $5.84.
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $277.64 million for the quarter, compared to the consensus estimate of $268.56 million. Sell-side analysts expect that Red Robin Gourmet Burgers, Inc. will post -0.63 EPS for the current fiscal year.
Institutional Trading of Red Robin Gourmet Burgers
Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $2,778,000. BlackRock Inc. bought a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $2,382,000. Western Standard LLC bought a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $706,000. PDT Partners LLC bought a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $327,000. Finally, Evergreen Capital Management LLC boosted its position in Red Robin Gourmet Burgers by 55.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 42,175 shares of the restaurant operator’s stock worth $319,000 after acquiring an additional 15,000 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.
About Red Robin Gourmet Burgers
Red Robin Gourmet Burgers, Inc (NASDAQ: RRGB) operates and franchises full-service casual dining restaurants under the Red Robin Gourmet Burgers and Brews brand. The company is known for its gourmet burgers, including customizable burger offerings, and provides a family-oriented dining experience.
Red Robin restaurants serve a broad menu that includes burgers, chicken sandwiches, wraps, salads, appetizers, entrees, desserts, milkshakes and other beverages. Many locations also offer takeout, delivery and catering services, allowing the company to serve customers both in its restaurants and through off-premise channels.
Red Robin traces its history to 1969, when its first restaurant opened in Seattle, Washington.
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