The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) hit a new 52-week low and has $41.32 target or 8.00% below today’s $44.91 share price. The 8 months bearish chart indicates high risk for the $586.67 million company. The 1-year low was reported on Sep, 30 by Barchart.com. If the $41.32 price target is reached, the company will be worth $46.93M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 44,701 shares traded hands. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has declined 30.98% since February 26, 2016 and is downtrending. It has underperformed by 41.41% the S&P500.
Analysts await Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) to report earnings on November, 1. They expect $0.47 earnings per share, down 18.97% or $0.11 from last year’s $0.58 per share. RRGB’s profit will be $6.14 million for 23.89 P/E if the $0.47 EPS becomes a reality. After $0.75 actual earnings per share reported by Red Robin Gourmet Burgers, Inc. for the previous quarter, Wall Street now forecasts -37.33% negative EPS growth.
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Ratings Coverage
Out of 6 analysts covering Red Robin Gourmet Burgers (NASDAQ:RRGB), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Red Robin Gourmet Burgers has been the topic of 16 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Monday, September 7 to “Hold”. Zacks downgraded the stock to “Buy” rating in Thursday, August 27 report. The firm has “Buy” rating by Jefferies given on Saturday, September 5. On Friday, September 11 the stock rating was initiated by Maxim Group with “Buy”. Maxim Group maintained the shares of RRGB in a report on Thursday, April 21 with “Buy” rating. Maxim Group maintained the shares of RRGB in a report on Friday, February 12 with “Buy” rating. As per Tuesday, February 16, the company rating was maintained by Jefferies. The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) earned “Hold” rating by Zacks on Monday, August 31. The rating was downgraded by Bank of America on Tuesday, September 13 to “Underperform”. The rating was maintained by Maxim Group with “Buy” on Friday, June 17.
According to Zacks Investment Research, “Red Robin Gourmet is a casual dining restaurant chain focused on serving an imaginative selection of high quality gourmet burgers in a family-friendly atmosphere. They currently own and operate in 12 states, and have additional restaurants operating under franchise or license agreements in 18 states and Canada. Their menu is centered around their signature product, the gourmet burger, which they make from beef, chicken, veggie, fish, turkey and pot roast and serve in a variety of recipes. (Prospectus)”
Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.03, from 1.12 in 2016Q1. The ratio turned negative, as 31 funds sold all Red Robin Gourmet Burgers, Inc. shares owned while 49 reduced positions. 25 funds bought stakes while 62 increased positions. They now own 13.70 million shares or 6.81% less from 14.70 million shares in 2016Q1.
Moreover, Deutsche National Bank Ag has 0% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 131,901 shares. Moreover, Jpmorgan Chase & Com has 0% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 9,197 shares. Lord Abbett Limited Liability Corp accumulated 64,138 shares or 0.01% of the stock. Kistler accumulated 0% or 4 shares. Comerica Bank & Trust accumulated 0.01% or 11,535 shares. Panagora Asset has 0.03% invested in the company for 126,231 shares. Louisiana State Employees Retirement System has 6,000 shares for 0.01% of their US portfolio. Cramer Rosenthal Mcglynn Limited Liability Co, a New York-based fund reported 638,847 shares. Blackrock Fund Advsr owns 874,518 shares or 0.01% of their US portfolio. Blackrock Institutional Tru Na, a California-based fund reported 342,299 shares. Weiss Multi holds 15,200 shares or 0.06% of its portfolio. Goldman Sachs Group has 0% invested in the company for 21,566 shares. Clearbridge Limited Liability Co holds 0.01% or 236,476 shares in its portfolio. Moreover, Advsr Asset has 0.01% invested in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 8,186 shares. Price T Rowe Md owns 1.47 million shares or 0.01% of their US portfolio.
Insider Transactions: Since May 19, 2016, the stock had 5 insider buys, and 1 insider sale for $40,259 net activity. Brown Stuart B sold $310,700 worth of stock. $49,973 worth of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) shares were bought by STUTZ CARIN. On Thursday, May 19 the insider Kaufman Glenn B. bought $95,700. Carley Stephen E. had bought 1,050 shares worth $50,438.
More notable recent Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) news were published by: Prnewswire.com which released: “Red Robin Gourmet Burgers and Brews Releases First-Ever Burger-Inspired Beer …” on September 26, 2016, also Prnewswire.com with their article: “Red Robin Gourmet Burgers and Brews Commits to Reducing Carbon Footprint in …” published on September 07, 2016, Fool.com published: “Why Red Robin Gourmet Burgers Inc. Stock Dropped 22% in May” on June 08, 2016. More interesting news about Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) were released by: Prnewswire.com and their article: “Red Robin Gourmet Burgers and Brews Brings “Comfort Food” to a Craveable New …” published on August 22, 2016 as well as Fool.com‘s news article titled: “Why Red Robin Gourmet Burgers, Inc. Stock Went Cold Today” with publication date: May 17, 2016.
RRGB Company Profile
Red Robin Gourmet Burgers, Inc., incorporated on January 17, 2001, together with its subsidiaries, primarily develops, operates and franchises casual-dining restaurants and fast-casual restaurants in North America and focuses on serving a selection of gourmet burgers. The Firm is primarily engaged in the sale of food and beverages at the Company-owned restaurants. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings. It also offers burgers made from chicken breasts, fish fillets, turkey patties, as well as vegetarian and vegan options. It offers a selection of buns, including ciabatta, gluten free, sesame, onion, whole grain, jalapeno and lettuce wraps a range of toppings, including fresh guacamole, housemade barbeque sauces, aiolis, grilled pineapple, crispy onion straws, sauteed mushrooms, fried jalapenos, bruschetta salsa, coleslaw, over eight different cheese choices and a fried egg.
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