Ruth’s Hospitality Group, Inc. (RUTH) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Ruth’s Chris Steak House, Inc. is one of the largest upscale steak house companies in the U.S. Ruth’s Chris specializes in USDA Prime grade steaks served in Ruth’s Chris signature fashion – sizzling and topped with seasoned butter. “

A number of other research analysts have also weighed in on RUTH. Jefferies Group LLC restated a hold rating and set a $20.00 price objective on shares of Ruth’s Hospitality Group in a research report on Friday, June 16th. BidaskClub lowered Ruth’s Hospitality Group from a buy rating to a hold rating in a research report on Thursday, July 6th. Deutsche Bank AG restated a buy rating and set a $24.00 price objective (up previously from $22.50) on shares of Ruth’s Hospitality Group in a research report on Monday, July 10th. Finally, Raymond James Financial, Inc. restated a market perform rating on shares of Ruth’s Hospitality Group in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $21.60.

Ruth’s Hospitality Group (NASDAQ:RUTH) opened at 20.20 on Wednesday. The stock has a market capitalization of $614.22 million, a PE ratio of 19.96 and a beta of 0.32. Ruth’s Hospitality Group has a 12-month low of $13.74 and a 12-month high of $22.65. The stock has a 50 day moving average price of $19.68 and a 200-day moving average price of $20.46.

Ruth’s Hospitality Group (NASDAQ:RUTH) last issued its quarterly earnings data on Friday, July 28th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $99.34 million. Ruth’s Hospitality Group had a return on equity of 37.86% and a net margin of 7.97%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. On average, equities analysts anticipate that Ruth’s Hospitality Group will post $1.08 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its position in Ruth’s Hospitality Group by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 5,826 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 2,536 shares in the last quarter. Advisor Group Inc. purchased a new position in Ruth’s Hospitality Group in the second quarter worth about $150,000. Mason Street Advisors LLC grew its position in Ruth’s Hospitality Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,935 shares of the restaurant operator’s stock worth $139,000 after acquiring an additional 455 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Ruth’s Hospitality Group by 9.6% in the first quarter. BNP Paribas Arbitrage SA now owns 7,860 shares of the restaurant operator’s stock worth $158,000 after acquiring an additional 689 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Ruth’s Hospitality Group in the first quarter worth about $184,000. Institutional investors own 81.82% of the company’s stock.

About Ruth’s Hospitality Group

Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.

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