Red Robin Gourmet Burgers Inc. shares fell to a six-month low, sinking 17.6% in Wednesday trading, after the burger chain reported earnings that missed expectations but analysts remain bullish. Raymond James analysts held on to their outperform rating despite the plunge, calling the reaction "overdone" for a number of reasons, including same-store sales, which fell 0.9% driven by a decrease in average check, but exceed broader industry trends. Still, Raymond James cut its price target to $65 from $72. Canaccord Genuity held on to its buy rating, but also cut its price target to $65 from $75. "For the positive, guest traffic outperformance vs. the industry continued and labor savings initiatives are beginning to gain traction," analysts wrote. "[W]e believe that comps should sequentially improve given the company's strong value messaging and growth in off-premise." Red Robin said off-premise sales increased to 9.4% of total food and beverage sales. Red Robin shares are down 15.5% for the year to date while the S&P 500 index is up 1.7% for the period.