Red Robin Gourmet Burgers (NASDAQ:RRGB) Downgraded by StockNews.com

Red Robin Gourmet Burgers (NASDAQ:RRGB) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Red Robin Gourmet Burgers in a research report on Monday.

Red Robin Gourmet Burgers Price Performance

NASDAQ:RRGB traded up $0.05 on Thursday, hitting $6.00. 240,164 shares of the company’s stock were exchanged, compared to its average volume of 320,357. The firm has a 50-day moving average price of $7.57 and a 200-day moving average price of $9.04. Red Robin Gourmet Burgers has a 52 week low of $5.56 and a 52 week high of $16.50. The company has a market cap of $93.60 million, a P/E ratio of -4.48 and a beta of 2.83.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.23). Red Robin Gourmet Burgers had a negative return on equity of 17,823.75% and a negative net margin of 1.61%. The business had revenue of $309.00 million for the quarter, compared to the consensus estimate of $304.73 million. On average, research analysts expect that Red Robin Gourmet Burgers will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

A number of institutional investors and hedge funds have recently modified their holdings of RRGB. Lazard Asset Management LLC bought a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at about $26,000. Tower Research Capital LLC TRC grew its stake in Red Robin Gourmet Burgers by 122.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,610 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 1,435 shares during the last quarter. UBS Group AG grew its stake in Red Robin Gourmet Burgers by 113.9% in the 1st quarter. UBS Group AG now owns 3,850 shares of the restaurant operator’s stock valued at $55,000 after buying an additional 2,050 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Red Robin Gourmet Burgers by 80.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,982 shares of the restaurant operator’s stock valued at $56,000 after buying an additional 3,103 shares during the last quarter. Finally, FMR LLC grew its stake in Red Robin Gourmet Burgers by 750.6% in the 1st quarter. FMR LLC now owns 3,947 shares of the restaurant operator’s stock valued at $57,000 after buying an additional 3,483 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.