The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) hit a new 52-week low and has $39.19 target or 8.00% below today’s $42.60 share price. The 6 months bearish chart indicates high risk for the $566.05M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $39.19 price target is reached, the company will be worth $45.28M 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 72,982 shares traded hands. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has declined 34.20% since March 10, 2016 and is downtrending. It has underperformed by 41.72% 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 $6.25M for 22.66 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 Jefferies on Tuesday, July 26 to “Hold”. The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has “Underperform” rating given on Tuesday, September 13 by Bank of America. The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has “Buy” rating given on Thursday, April 21 by Maxim Group. The rating was maintained by Jefferies on Tuesday, February 16 with “Buy”. Zacks downgraded the stock to “Buy” rating in Thursday, August 27 report. Maxim Group maintained it with “Buy” rating and $77 target price in Friday, June 17 report. Zacks upgraded the shares of RRGB in a report on Monday, August 31 to “Hold” rating. Maxim Group maintained the stock with “Buy” rating in Friday, February 12 report. Maxim Group maintained Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) on Thursday, January 7 with “Buy” rating. The rating was downgraded by Zacks on Monday, September 7 to “Hold”.
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 worsened, 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.
Point72 Asset Mgmt L P last reported 0.1% of its portfolio in the stock. Bessemer Grp has 0% invested in the company for 32 shares. Paradigm Asset Mgmt Lc last reported 0% of its portfolio in the stock. Princeton Alpha Mngmt L P, a New Jersey-based fund reported 8,288 shares. Parametric Assoc Ltd Liability Co has 28,784 shares for 0% of their US portfolio. Alps Advsrs accumulated 0% or 6,208 shares. Lsv Asset Management last reported 45,100 shares in the company. Bnp Paribas Arbitrage reported 4,918 shares or 0% of all its holdings. Blackrock Institutional Trust Communication Na holds 342,299 shares or 0% of its portfolio. Schwab Charles Invest Mgmt accumulated 75,469 shares or 0% of the stock. Ls Advsrs Ltd Co holds 0% of its portfolio in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 475 shares. Foundry Prtn Ltd reported 38,655 shares or 0.1% of all its holdings. American Century Cos holds 421,462 shares or 0.02% of its portfolio. State Street holds 0% of its portfolio in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) for 265,071 shares. Stevens Capital Management Limited Partnership reported 10,522 shares or 0.02% of all its holdings.
Insider Transactions: Since May 19, 2016, the stock had 5 insider purchases, and 1 sale for $40,259 net activity. Brown Stuart B sold $310,700 worth of stock. STUTZ CARIN bought $50,110 worth of stock or 960 shares. Another trade for 1,050 shares valued at $50,438 was bought by Carley Stephen E.. Another trade for 2,000 shares valued at $95,700 was made by Kaufman Glenn B. on Thursday, May 19.
More notable recent Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) news were published by: Fool.com which released: “Why Red Robin Gourmet Burgers, Inc. Fell 11% in September” on October 09, 2016, also Wsj.com with their article: “Red Robin Retreats From Fast-Casual Dining Experiment” published on October 05, 2016, Prnewswire.com published: “Red Robin Gourmet Burgers and Brews is Two Weeks Away from Opening its Newest …” on October 11, 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 Releases First-Ever Burger-Inspired Beer …” published on September 26, 2016 as well as Prnewswire.com‘s news article titled: “Red Robin Gourmet Burgers and Brews is Two Weeks Away from Opening its Newest …” with publication date: October 03, 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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