Ruth's Hospitality Group (NASDAQ:RUTH) Given New $30.00 Price Target at Citigroup

Ruth’s Hospitality Group (NASDAQ:RUTH) had its target price dropped by research analysts at Citigroup from $33.00 to $30.00 in a note issued to investors on Monday, November 12th. The firm currently has a “hold” rating on the restaurant operator’s stock. Citigroup’s price objective would indicate a potential upside of 24.84% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ruth’s Hospitality Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, August 15th. Finally, Raymond James downgraded shares of Ruth’s Hospitality Group from an “outperform” rating to a “market perform” rating in a research report on Monday, August 13th. Six research analysts have rated the stock with a hold rating, Ruth’s Hospitality Group currently has a consensus rating of “Hold” and an average target price of $30.33.

Ruth’s Hospitality Group stock traded down $0.30 on Monday, hitting $24.03. The company’s stock had a trading volume of 267,045 shares, compared to its average volume of 249,148. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.39 and a quick ratio of 0.27. Ruth’s Hospitality Group has a one year low of $20.80 and a one year high of $33.95. The firm has a market capitalization of $732.34 million, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.21 and a beta of 0.49.

Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its earnings results on Friday, November 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $99.02 million for the quarter, compared to analyst estimates of $95.85 million. Ruth’s Hospitality Group had a net margin of 8.10% and a return on equity of 47.19%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Analysts predict that Ruth’s Hospitality Group will post 1.38 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC bought a new position in shares of Ruth’s Hospitality Group in the third quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ruth’s Hospitality Group by 126.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,439 shares of the restaurant operator’s stock worth $181,000 after purchasing an additional 3,600 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Ruth’s Hospitality Group in the second quarter worth $188,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ruth’s Hospitality Group in the third quarter worth $215,000. Finally, Leonard Rickey Investment Advisors P.L.L.C. bought a new position in shares of Ruth’s Hospitality Group in the second quarter worth $209,000. Institutional investors own 83.89% of the company’s stock.

Ruth’s Hospitality Group Company Profile

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

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