Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Friday, July 17th. Benchmark reissued a “buy” rating on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Finally, UBS Group set a $8.00 target price on shares of Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.67.

Red Robin Gourmet Burgers Price Performance

Shares of RRGB stock opened at $8.09 on Friday. The company has a market cap of $149.66 million, a price-to-earnings ratio of -5.39 and a beta of 2.38. Red Robin Gourmet Burgers has a 1 year low of $2.45 and a 1 year high of $8.26. The firm has a fifty day moving average price of $6.32 and a 200-day moving average price of $4.64.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $378.26 million during the quarter, compared to the consensus estimate of $273.29 million. Equities research analysts expect that Red Robin Gourmet Burgers will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Hedge funds have recently made changes to their positions in the business. Simcoe Capital LLC purchased a new stake in Red Robin Gourmet Burgers during the 4th quarter valued at approximately $1,989,000. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Red Robin Gourmet Burgers by 8.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,388,465 shares of the restaurant operator’s stock worth $5,623,000 after buying an additional 112,526 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Red Robin Gourmet Burgers by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 141,675 shares of the restaurant operator’s stock worth $972,000 after acquiring an additional 8,634 shares during the last quarter. Jain Global LLC bought a new position in shares of Red Robin Gourmet Burgers during the fourth quarter worth $47,000. Finally, Panagora Asset Management Inc. purchased a new position in Red Robin Gourmet Burgers during the fourth quarter valued at $65,000. 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.