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

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.

A number of other analysts have also recently issued reports on RUTH. Stephens lifted their target price on shares of Ruth’s Hospitality Group from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 11th.

In other news, Director Michael P. Odonnell sold 200,000 shares of the business’s stock in a transaction 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.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Ruth’s Hospitality Group by 186.1% during the 1st quarter. Victory Capital Management Inc. now owns 200,410 shares of the restaurant operator’s stock valued at $4,976,000 after purchasing an additional 130,359 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ruth’s Hospitality Group by 24.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,714 shares of the restaurant operator’s stock valued at $117,000 after purchasing an additional 924 shares during the last quarter. Braun Stacey Associates Inc. raised its stake in Ruth’s Hospitality Group by 3,871.4% during the 1st quarter. Braun Stacey Associates Inc. now owns 710,877 shares of the restaurant operator’s stock valued at $17,651,000 after purchasing an additional 692,977 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Ruth’s Hospitality Group by 39.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 47,551 shares of the restaurant operator’s stock valued at $843,000 after purchasing an additional 13,351 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Ruth’s Hospitality Group during the 4th quarter valued at $3,699,000. Institutional investors and hedge funds own 69.63% of the company’s stock.

The stock has a market capitalization of $947.13 million, a price-to-earnings ratio of -73.11, a PEG ratio of 2.30 and a beta of 2.31. The company’s 50 day moving average is $24.84 and its 200 day 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 released its earnings results on Friday, March 5th. The restaurant operator reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $77.37 million during the quarter, compared to analysts’ expectations 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%. On average, equities research analysts anticipate that Ruth’s Hospitality Group, Inc. will post -0.38 earnings per share for the current fiscal year.

About Ruth’s Hospitality Group (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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