Free Trial

Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Crosses Above 200 Day Moving Average - Here's Why

Red Robin Gourmet Burgers logo with Retail/Wholesale background

Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.95 and traded as high as $6.24. Red Robin Gourmet Burgers shares last traded at $5.97, with a volume of 137,462 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on RRGB. Craig Hallum lowered their target price on Red Robin Gourmet Burgers from $15.00 to $11.50 and set a "buy" rating on the stock in a report on Friday, August 23rd. Benchmark dropped their target price on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, August 20th. Finally, Lake Street Capital reduced their price objective on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 23rd.

Read Our Latest Analysis on RRGB

Red Robin Gourmet Burgers Trading Up 1.2 %

The firm has a market capitalization of $95.13 million, a P/E ratio of -2.29 and a beta of 2.75. The company's fifty day moving average is $4.51 and its 200-day moving average is $5.95.

Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The restaurant operator reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.07). The firm had revenue of $300.15 million during the quarter, compared to the consensus estimate of $295.57 million. During the same period in the previous year, the business posted ($0.24) EPS. On average, equities research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -2.37 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RRGB. Headlands Technologies LLC bought a new position in Red Robin Gourmet Burgers during the first quarter valued at about $25,000. Quarry LP bought a new position in Red Robin Gourmet Burgers in the second quarter worth $25,000. PNC Financial Services Group Inc. boosted its stake in Red Robin Gourmet Burgers by 57.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator's stock worth $85,000 after buying an additional 2,491 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Red Robin Gourmet Burgers in the 2nd quarter valued at $55,000. Finally, Virtu Financial LLC acquired a new position in shares of Red Robin Gourmet Burgers in the 1st quarter valued at $149,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Red Robin Gourmet Burgers Company Profile

(Get Free Report)

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.

Read More

Should you invest $1,000 in Red Robin Gourmet Burgers right now?

Before you consider Red Robin Gourmet Burgers, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Red Robin Gourmet Burgers wasn't on the list.

While Red Robin Gourmet Burgers currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

12 Stocks Corporate Insiders are Abandoning Cover

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Energy Vault’s 100% Stock Jump: CEO Discusses $350M Project in Australia in MarketBeat CEO Series
Market Shifts After Election: What Stocks Could Benefit Most?
Post-Election Chaos or Opportunity? Prepare Your Investments

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines