Red Robin Gourmet Burgers (RRGB) NewsBite - RRGB Downgraded By KeyBanc Capital Markets

Posted: Friday, November 06, 2009 1:42 PM EDT

Red Robin Gourmet Burgers (RRGB) was downgraded today by analysts at KeyBanc Capital Markets and the stock is now at $15.35, down $2.34 (-13.23%) on volume of 684,125 shares traded. The analysts downgraded RRGB to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $7.49 to a high of $26.44. Red Robin Gourmet Burgers stock has been showing support around $16.94 and resistance in the $18.08 range. Technical indicators for the stock are neutral and S&P gives RRGB a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on RRGB the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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