Today’s Featured Stock
Valued at $200 million, Red Robin Gourmet Burgers (RRGB) is a full-service casual dining restaurant chain that serves an assorted range of burgers. It offers burgers, various appetizers, salads, soups, seafood, and other entrees as well as desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. RRGB checks those boxes. The Trend Seeker issued a new “Buy” signal on April 16. Since then, the stock has gained 171.71%.
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www.barchart.comBarchart’s Technical Indicators for Red Robin Gourmet Burgers
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Red Robin scored a 2-year high of $10.95 on Aug. 13.
Red Robin has a Weighted Alpha of 103. RRGB has an 100% “Buy” opinion from Barchart. The stock has gained 58.92% over the past 52 weeks. Red Robin has its Trend Seeker “Buy” signal intact. The stock recently traded at $10.65 with a 50-day moving average of $7.18. RRGB had 13 new highs and gained 51.21% in the last month. 60-month beta of 2.40. Relative Strength Index (RSI) is at 82.41. There’s a technical support level around $9.42.Don’t Forget the Fundamentals
$200 million market capitalization. Revenue is expected to decrease by 3.69% this year and another 2.69% next year. Earnings are estimated to increase 69.53% this year and an additional 190.60% next year.Analyst and Investor Sentiment on Red Robin Gourmet Burgers
The Wall Street analysts followed by Barchart give the stock 4 “Strong Buy” and 1 “Hold” opinion with price targets between $8.50 and $14.50. Morningstar thinks the stock is overvalued with a price target of $9.28. 7,500 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.” TipRanks’ consensus price target is $12.75 for a 20.4% gain. Short interest is 10% of the float with 14.79 days to cover the float.The Bottom Line on Red Robin Gourmet Burgers
Red Robin seems to be in the middle of a turnaround. Half the financial sites have not kept up with the progress management has made. This is still a buying opportunity.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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