Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Rating Upgraded by StockNews.com

Red Robin Gourmet Burgers (NASDAQ:RRGB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, CL King upgraded shares of Red Robin Gourmet Burgers from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Red Robin Gourmet Burgers presently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

Red Robin Gourmet Burgers Stock Down 7.4 %

Shares of NASDAQ:RRGB opened at $5.63 on Friday. The stock has a market cap of $97.92 million, a PE ratio of -1.71 and a beta of 2.65. The company’s fifty day moving average is $5.50 and its 200 day moving average is $5.10. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $9.20.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.44). The company had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.20 million. During the same quarter in the previous year, the firm posted ($0.66) EPS. Sell-side analysts anticipate that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

Insider Buying and Selling at Red Robin Gourmet Burgers

In related news, insider Jumana Capital Investments Llc bought 800,454 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $5.19 per share, with a total value of $4,154,356.26. Following the purchase, the insider now owns 1,614,906 shares of the company’s stock, valued at approximately $8,381,362.14. This trade represents a 98.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Red Robin Gourmet Burgers during the 3rd quarter valued at about $34,000. R Squared Ltd bought a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter valued at about $52,000. Raymond James Financial Inc. bought a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter valued at about $63,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Red Robin Gourmet Burgers during the fourth quarter worth about $64,000. Finally, Barclays PLC boosted its stake in Red Robin Gourmet Burgers by 489.6% during the fourth quarter. Barclays PLC now owns 12,270 shares of the restaurant operator’s stock worth $67,000 after acquiring an additional 10,189 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

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.