Red Robin Gourmet Burgers (NASDAQ:RRGB) Cut to “Strong Sell” at Zacks Research

by · The Markets Daily

Zacks Research downgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB – Free Report) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks reports. Zacks Research also issued estimates for Red Robin Gourmet Burgers’ FY2028 earnings at $0.03 EPS.

A number of other research firms have also recently issued reports on RRGB. Benchmark upped their price objective on shares of Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Friday, July 17th. Finally, Wall Street Zen raised 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.33.

Check Out Our Latest Analysis on Red Robin Gourmet Burgers

Red Robin Gourmet Burgers Stock Up 2.7%

Red Robin Gourmet Burgers stock opened at $8.44 on Tuesday. Red Robin Gourmet Burgers has a 12-month low of $2.45 and a 12-month high of $10.95. The business’s 50-day moving average price is $8.39 and its two-hundred day moving average price is $6.19. The stock has a market cap of $159.52 million, a PE ratio of -4.99 and a beta of 2.49.

Red Robin Gourmet Burgers (NASDAQ:RRGB – Get Free Report) last issued its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 EPS for the quarter. The business had revenue of $277.64 million for the quarter, compared to analyst estimates of $268.56 million. As a group, analysts expect that Red Robin Gourmet Burgers will post -0.63 earnings per share for the current year.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently made changes to their positions in RRGB. NewEdge Advisors LLC bought a new stake in shares of Red Robin Gourmet Burgers in the second quarter worth $160,000. Hsbc Holdings PLC acquired a new stake in Red Robin Gourmet Burgers in the second quarter valued at $96,000. Wellington Management Group LLP bought a new position in Red Robin Gourmet Burgers during the 2nd quarter worth $2,778,000. Lotus Technology Management LP bought a new position in Red Robin Gourmet Burgers during the 2nd quarter worth $305,000. Finally, PDT Partners LLC acquired a new position in Red Robin Gourmet Burgers during the 2nd quarter worth about $327,000. 84.04% of the stock is currently owned by institutional investors.

About Red Robin Gourmet Burgers

(Get Free Report)

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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