Red Robin Gourmet Burgers (NASDAQ:RRGB) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.92 and traded as high as $7.55. Red Robin Gourmet Burgers shares last traded at $7.46, with a volume of 158,007 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on RRGB. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Benchmark lifted their price objective on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Red Robin Gourmet Burgers currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Red Robin Gourmet Burgers Stock Performance

The firm’s 50-day moving average price is $8.30 and its two-hundred day moving average price is $5.95. The firm has a market capitalization of $142.88 million, a price-to-earnings ratio of -4.47 and a beta of 2.44.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its earnings results on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share for the quarter. The business had revenue of $277.64 million during the quarter, compared to the consensus estimate of $268.56 million. As a group, equities research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Red Robin Gourmet Burgers in the second quarter valued at $2,382,000. Wellington Management Group LLP bought a new position in shares of Red Robin Gourmet Burgers during the second quarter valued at $2,778,000. Western Standard LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at $706,000. NewEdge Advisors LLC acquired a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at $160,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter worth about $96,000. Institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc is a casual-dining restaurant company that operates the Red Robin Gourmet Burgers brand. The company is known for made-to-order gourmet burgers, including beef, chicken, turkey and plant-based options, along with Bottomless Steak Fries, sandwiches, salads, appetizers, entrees, desserts, beverages and children’s meals.

Founded in 1969 in Seattle, Washington, Red Robin has developed into a full-service restaurant chain serving guests primarily in the United States, with operations supported by a combination of company-owned and franchised locations.