Red Robin Gourmet Burgers (NASDAQ:RRGB) Upgraded by StockNews.com to "Hold" Rating

StockNews.com upgraded shares of Red Robin Gourmet Burgers (NASDAQ:RRGB - Free Report) from a sell rating to a hold rating in a report released 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 price objective on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.38.

Red Robin Gourmet Burgers Stock Down 0.6 %

Shares of Red Robin Gourmet Burgers stock traded down $0.03 on Friday, reaching $4.84. The company's stock had a trading volume of 467,471 shares, compared to its average volume of 416,280. The company has a market capitalization of $84.54 million, a price-to-earnings ratio of -1.47 and a beta of 2.65. Red Robin Gourmet Burgers has a 52 week low of $2.97 and a 52 week high of $9.20. The firm's fifty day simple moving average is $5.49 and its two-hundred day simple moving average is $5.10.

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Red Robin Gourmet Burgers (NASDAQ:RRGB - Get Free Report) last issued its earnings results on Wednesday, February 26th. The restaurant operator reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.44). The business had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.20 million. During the same period last year, the business posted ($0.66) earnings per share. As a group, research analysts predict that Red Robin Gourmet Burgers will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JCP Investment Management LLC raised its position in Red Robin Gourmet Burgers by 281.6% in the fourth quarter. JCP Investment Management LLC now owns 1,860,668 shares of the restaurant operator's stock worth $10,215,000 after acquiring an additional 1,373,077 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of Red Robin Gourmet Burgers by 8.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,069,632 shares of the restaurant operator's stock worth $5,872,000 after purchasing an additional 85,518 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Red Robin Gourmet Burgers by 482.8% in the 3rd quarter. GSA Capital Partners LLP now owns 634,961 shares of the restaurant operator's stock worth $2,800,000 after purchasing an additional 526,016 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Red Robin Gourmet Burgers by 112.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 394,471 shares of the restaurant operator's stock valued at $2,166,000 after purchasing an additional 208,862 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Red Robin Gourmet Burgers during the third quarter valued at about $1,082,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

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.