Is Red Robin Gourmet Burgers, Inc. overvalued or undervalued?

As of 26 February 2019, the valuation grade for Red Robin Gourmet Burgers, Inc. has moved from very expensive to risky, indicating a significant shift in perception. The company is currently assessed as overvalued, particularly given its negative P/E ratio due to ongoing losses and a troubling Price to Book Value of -1.84. Additionally, the EV to EBITDA ratio stands at 6.42, which, while not excessively high, reflects the challenges the company faces in generating earnings.
In comparison to peers, Red Robin's EV to EBITDA is lower than that of BJ's Restaurants, Inc., which has a valuation of 44.62 and an EV to EBITDA of 9.72, and Carrols Restaurant Group, Inc., which is fairly valued with an EV to EBITDA of 6.91. The company's recent stock performance has been notably poor, with a year-to-date return of -8.93%, contrasting sharply with the S&P 500's gain of 2.44% in the same period, further reinforcing the notion that Red Robin is currently overvalued in the market.