HC Wainwright Reaffirms Buy Rating for RCI Hospitality (NASDAQ:RICK)

RCI Hospitality (NASDAQ:RICK)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $98.00 price target on the restaurant operator’s stock. HC Wainwright’s price objective would indicate a potential upside of 134.67% from the company’s previous close. HC Wainwright also issued estimates for RCI Hospitality’s Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $0.66 EPS and FY2025 earnings at $4.18 EPS.

Separately, StockNews.com raised shares of RCI Hospitality from a “hold” rating to a “buy” rating in a research report on Monday.

RCI Hospitality Price Performance

Shares of RICK opened at $41.76 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.90 and a quick ratio of 0.82. The company’s fifty day moving average price is $44.17 and its 200-day moving average price is $46.64. RCI Hospitality has a 1-year low of $37.61 and a 1-year high of $69.40. The firm has a market capitalization of $389.41 million, a PE ratio of 20.47 and a beta of 1.55.

RCI Hospitality (NASDAQ:RICK) last posted its quarterly earnings results on Thursday, August 8th. The restaurant operator reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($1.27). RCI Hospitality had a net margin of 1.67% and a return on equity of 1.76%. The firm had revenue of $76.18 million for the quarter, compared to analysts’ expectations of $72.79 million. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that RCI Hospitality will post 0.69 EPS for the current year.

Hedge Funds Weigh In On RCI Hospitality

Institutional investors and hedge funds have recently modified their holdings of the stock. Progeny 3 Inc. raised its position in RCI Hospitality by 23.5% during the second quarter. Progeny 3 Inc. now owns 460,968 shares of the restaurant operator’s stock valued at $20,080,000 after acquiring an additional 87,832 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of RCI Hospitality by 24.4% in the 1st quarter. Russell Investments Group Ltd. now owns 27,733 shares of the restaurant operator’s stock valued at $1,609,000 after purchasing an additional 5,432 shares during the period. DHK Financial Advisors Inc. purchased a new stake in RCI Hospitality during the second quarter worth $1,699,000. BNP Paribas Financial Markets grew its position in RCI Hospitality by 9.8% during the first quarter. BNP Paribas Financial Markets now owns 7,719 shares of the restaurant operator’s stock valued at $448,000 after buying an additional 690 shares during the period. Finally, Vanguard Group Inc. increased its holdings in RCI Hospitality by 1.9% in the first quarter. Vanguard Group Inc. now owns 502,041 shares of the restaurant operator’s stock valued at $29,118,000 after buying an additional 9,218 shares in the last quarter. Institutional investors and hedge funds own 53.82% of the company’s stock.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.