Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Given Consensus Rating of “Hold” by Brokerages

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

Several equities analysts recently commented on the company. Jefferies Financial Group upgraded Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Monday, December 15th. Benchmark reissued a “buy” rating on shares of Red Robin Gourmet Burgers in a report on Monday, November 17th. Zacks Research downgraded shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Thursday, January 22nd.

Red Robin Gourmet Burgers Stock Performance

Shares of Red Robin Gourmet Burgers stock opened at $3.76 on Tuesday. The firm has a market cap of $67.53 million, a P/E ratio of -1.16 and a beta of 2.32. The firm’s 50-day simple moving average is $4.08 and its 200-day simple moving average is $5.37. Red Robin Gourmet Burgers has a twelve month low of $2.50 and a twelve month high of $7.89.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RRGB. BNP Paribas Financial Markets boosted its holdings in shares of Red Robin Gourmet Burgers by 503.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 4,487 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Red Robin Gourmet Burgers by 152.6% in the second quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock worth $58,000 after purchasing an additional 6,075 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Red Robin Gourmet Burgers during the third quarter worth $70,000. Granite Investment Partners LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the third quarter valued at $73,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Red Robin Gourmet Burgers in the second quarter valued at $76,000. 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.