Red Robin Gourmet Burgers, Inc. | $RRGB Stock | Shares Soar Up on Better than Expected Q1 Earnings

Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)



Red Robin Gourmet Burgers, Inc. (RRGB), a national franchise full-service restaurant company yesterday reported their first quarter 2017 financial results. Red Robin reported first quarter profits of $11.6 million.

Red Robin reported first quarter adjusted earnings of $0.89 per share which beat  analyst expectations of $0.58 per share. Red Robin reported first quarter revenues of $418.6 million which beat analyst expectations of $416.7 million.         


Red Robin Gourmet Burgers, Inc. CEO’s  Comments

“The steps we’ve taken so far are strengthening our business, enabling us to gain market share, and separating Red Robin from our casual dining competitors,” said Denny Marie Post, Red Robin Gourmet Burgers, Inc. chief executive officer. “During the first quarter, our everyday value Tavern Double burger menu continued to drive traffic, our teams delivered on improved speed of service, and our recent investments in the growing off-premise use began to gain traction. The early success of these and other initiatives gives us confidence that we are laying the groundwork for improved performance for the balance of the year and beyond.”  Business Wire


RRGB Technical Analysis

Red Robin Gourmet Burgers
Red Robin Gourmet Burgers Chart

RRGB opened trading yesterday at $59.55 which was up from the previous day’s trading close of $59.25. RRGB closed trading yesterday at $58.00 and spiked up after market to $67.00, equivalent to a 16% increase from the closing price. Taking a look at the daily chart we can see the last time RRGB traded above these levels we have to go back to March 11th, 2016 when it traded at $67.19.

Taking a closer look at the daily chart we can see that before the spike up RRGB had already been in an overall upward trend dating back to February 28th when it traded at $45.65. RRGB has a float of 12.04 million shares and traded 1.44 times the normal daily trading volume on Tuesday.

For trading purposes, I would like to see RRGB open trading on Wednesday above $64.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.75 from my entry position fearing anything more than that and the stock would start to fill in the gap up.


Company Profile

Red Robin Gourmet Burgers, Inc., incorporated on January 17, 2001, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. 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 offered a selection of buns, including ciabatta, gluten free, sesame, onion, whole grain, jalapeno and lettuce wraps a range of toppings, including fresh guacamole, house made barbeque sauces, aiolis, grilled pineapple, crispy onion straws, sauteed mushrooms, fried jalapenos, bruschetta salsa, coleslaw, eight different cheese choices and a fried egg, as of December 25, 2016.

The Company’s burgers are served with its all-you-can-eat Bottomless Steak Fries or alternative bottomless sides. It serves an array of other items, which include a range of appetizers, salads, soups, seafood and other entrees, desserts, its alcoholic, and non-alcoholic specialty beverages and a range of national and craft beers. Its brands include Red Robin, Red Robin Gourmet Burgers, Red Robin America’s Gourmet Burgers & Spirits, Red Robin Burger Works, YUMMM, Red Robin Gourmet Burgers and Brews, and Red Robin Royalty. As of December 25, 2016, it owned real estate for 36 Company-owned restaurants located in Arizona; Arkansas; California; Colorado; Florida; Georgia; Illinois; Indiana; Maryland; Missouri; North Carolina; Ohio; Pennsylvania; Texas; Virginia, and Washington.  Reuters




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