Zacks Research cut shares of Red Robin Gourmet Burgers (NASDAQ:RRGB – Free Report) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks reports.
Several other brokerages also recently weighed in on RRGB. Benchmark increased their price target on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. 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 analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.33.
View Our Latest Research Report on Red Robin Gourmet Burgers
Red Robin Gourmet Burgers Stock Performance
Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The firm had revenue of $277.64 million during the quarter, compared to analyst estimates of $268.56 million. Analysts predict that Red Robin Gourmet Burgers will post -0.63 EPS for the current fiscal year.
Hedge Funds Weigh In On Red Robin Gourmet Burgers
Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in Red Robin Gourmet Burgers during the second quarter worth about $160,000. Hsbc Holdings PLC acquired a new position in Red Robin Gourmet Burgers in the second quarter valued at approximately $96,000. Wellington Management Group LLP acquired a new position in Red Robin Gourmet Burgers in the second quarter valued at approximately $2,778,000. Lotus Technology Management LP purchased a new stake in Red Robin Gourmet Burgers in the 2nd quarter worth approximately $305,000. Finally, PDT Partners LLC purchased a new stake in Red Robin Gourmet Burgers in the 2nd quarter worth approximately $327,000. Institutional investors and hedge funds own 84.04% of the company’s stock.
About Red Robin Gourmet Burgers
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.
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