Ruth’s Hospitality Group (NASDAQ:RUTH) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Ruth’s Hospitality Group (NASDAQ:RUTH) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Price Targets.com reports. They currently have $28.00 price target on the restaurant operator’s stock, up from their prior price target of $25.00. Piper Sandler also issued estimates for Ruth’s Hospitality Group’s Q3 2021 earnings at $0.09 EPS, Q4 2021 earnings at $0.35 EPS, FY2021 earnings at $1.06 EPS, Q1 2022 earnings at $0.43 EPS, Q2 2022 earnings at $0.34 EPS, Q3 2022 earnings at $0.15 EPS, Q4 2022 earnings at $0.58 EPS and FY2022 earnings at $1.50 EPS.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Ruth’s Hospitality Group from a buy rating to a hold rating in a report on Saturday, August 7th. Raymond James decreased their price target on Ruth’s Hospitality Group from $31.00 to $26.50 and set a strong-buy rating for the company in a research note on Wednesday, August 4th. CL King upgraded Ruth’s Hospitality Group from a neutral rating to a buy rating and set a $27.00 target price on the stock in a research report on Thursday, August 12th. Finally, Stephens cut their target price on Ruth’s Hospitality Group from $33.00 to $29.00 and set an overweight rating on the stock in a research report on Wednesday, June 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $27.30.

RUTH opened at $20.92 on Monday. The business has a fifty day simple moving average of $20.06 and a 200 day simple moving average of $22.81. The company has a market capitalization of $728.27 million, a PE ratio of 41.02 and a beta of 2.41. Ruth’s Hospitality Group has a 1 year low of $9.95 and a 1 year high of $28.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.04 and a quick ratio of 0.97.

Ruth’s Hospitality Group (NASDAQ:RUTH) last released its earnings results on Friday, August 6th. The restaurant operator reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.13. The firm had revenue of $110.91 million during the quarter, compared to the consensus estimate of $107.64 million. Ruth’s Hospitality Group had a return on equity of 18.62% and a net margin of 5.21%. Equities analysts anticipate that Ruth’s Hospitality Group will post 1.13 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors increased its position in Ruth’s Hospitality Group by 361.4% in the second quarter. Arkadios Wealth Advisors now owns 1,915 shares of the restaurant operator’s stock worth $44,000 after buying an additional 1,500 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Ruth’s Hospitality Group in the second quarter worth $46,000. Captrust Financial Advisors boosted its holdings in shares of Ruth’s Hospitality Group by 639.5% in the first quarter. Captrust Financial Advisors now owns 3,106 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 2,686 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ruth’s Hospitality Group by 799.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,769 shares of the restaurant operator’s stock worth $87,000 after acquiring an additional 3,350 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Ruth’s Hospitality Group by 185.4% during the second quarter. Macquarie Group Ltd. now owns 4,680 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 3,040 shares during the period. 80.39% of the stock is owned by institutional investors.

About Ruth’s Hospitality Group

Ruth’s Hospitality Group, Inc engages in the development and operation of fine dining restaurants. It operates through the following segments: Company Owned Steakhouse Restaurants and Franchise Operations. The Company-Owned Steakhouse Restaurants segment operates restaurants under the Ruth’s Chris Steak House brand.

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