Ruth’s Hospitality Group (NASDAQ:RUTH) Sets New 52-Week High After Analyst Upgrade


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Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) reached a new 52-week high during mid-day trading on Tuesday after Raymond James raised their price target on the stock from $28.00 to $31.00. Raymond James currently has a strong-buy rating on the stock. Ruth’s Hospitality Group traded as high as $27.10 and last traded at $27.05, with a volume of 507987 shares trading hands. The stock had previously closed at $26.27.

RUTH has been the subject of several other research reports. Stephens increased their target price on shares of Ruth’s Hospitality Group from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. Zacks Investment Research raised shares of Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 11th.

In other Ruth’s Hospitality Group news, Director Michael P. Odonnell sold 200,000 shares of Ruth’s Hospitality Group stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $24.90, for a total value of $4,980,000.00. 7.20% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Ruth’s Hospitality Group by 3.1% in the 4th quarter. BlackRock Inc. now owns 5,022,828 shares of the restaurant operator’s stock worth $89,054,000 after acquiring an additional 149,102 shares during the period. Alliancebernstein L.P. grew its stake in Ruth’s Hospitality Group by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 2,694,955 shares of the restaurant operator’s stock worth $47,782,000 after acquiring an additional 136,698 shares during the period. SummerHaven Investment Management LLC acquired a new position in shares of Ruth’s Hospitality Group in the 4th quarter valued at $1,011,000. Royce & Associates LP boosted its holdings in shares of Ruth’s Hospitality Group by 131.0% in the 4th quarter. Royce & Associates LP now owns 738,869 shares of the restaurant operator’s stock valued at $13,100,000 after purchasing an additional 418,992 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Ruth’s Hospitality Group by 14.5% in the 4th quarter. Principal Financial Group Inc. now owns 733,662 shares of the restaurant operator’s stock valued at $13,008,000 after purchasing an additional 93,146 shares during the last quarter. 69.63% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $947.13 million, a price-to-earnings ratio of -73.11, a price-to-earnings-growth ratio of 2.30 and a beta of 2.31. The stock’s fifty day simple moving average is $24.84 and its two-hundred day simple moving average is $19.27. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.24 and a current ratio of 1.31.

Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its quarterly earnings results on Friday, March 5th. The restaurant operator reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $77.37 million for the quarter, compared to analyst estimates of $75.22 million. Ruth’s Hospitality Group had a negative net margin of 3.65% and a positive return on equity of 1.70%. Analysts predict that Ruth’s Hospitality Group, Inc. will post -0.38 EPS for the current fiscal year.

Ruth’s Hospitality Group Company Profile (NASDAQ:RUTH)

Ruth's Hospitality Group, Inc, together with its subsidiaries, develops, operates, and franchises fine dining restaurants under the Ruth's Chris Steak House name. The company's restaurants offer food and beverage products to special occasion diners and frequent customers, as well as business clientele.

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