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

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 firms have also recently commented on RUTH. Jefferies Group LLC reissued a hold rating and issued a $20.00 target price on shares of Ruth’s Hospitality Group in a report on Friday, June 16th. BidaskClub cut shares of Ruth’s Hospitality Group from a buy rating to a hold rating in a report on Thursday, July 6th. Deutsche Bank AG reissued a buy rating and issued a $24.00 target price (up previously from $22.50) on shares of Ruth’s Hospitality Group in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of Ruth’s Hospitality Group in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $20.75.

Shares of Ruth’s Hospitality Group (NASDAQ:RUTH) opened at 21.15 on Friday. The firm has a 50-day moving average of $20.25 and a 200 day moving average of $20.67. Ruth’s Hospitality Group has a 52-week low of $14.00 and a 52-week high of $22.65. The firm has a market cap of $643.11 million, a PE ratio of 20.90 and a beta of 0.33.

Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its earnings results on Friday, July 28th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $99.34 million. Ruth’s Hospitality Group had a net margin of 7.97% and a return on equity of 37.86%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, equities analysts predict that Ruth’s Hospitality Group will post $1.07 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in RUTH. Principal Financial Group Inc. increased its position in Ruth’s Hospitality Group by 227.5% during the 2nd quarter. Principal Financial Group Inc. now owns 775,973 shares of the restaurant operator’s stock valued at $16,877,000 after purchasing an additional 539,034 shares during the period. BlackRock Inc. grew its position in shares of Ruth’s Hospitality Group by 10.0% during the 2nd quarter. BlackRock Inc. now owns 4,287,383 shares of the restaurant operator’s stock worth $93,252,000 after buying an additional 389,525 shares during the period. Bank of America Corp DE grew its position in shares of Ruth’s Hospitality Group by 143.4% during the 1st quarter. Bank of America Corp DE now owns 493,384 shares of the restaurant operator’s stock worth $9,893,000 after buying an additional 290,659 shares during the period. Kennedy Capital Management Inc. grew its position in shares of Ruth’s Hospitality Group by 1,296.2% during the 1st quarter. Kennedy Capital Management Inc. now owns 305,696 shares of the restaurant operator’s stock worth $6,129,000 after buying an additional 283,801 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Ruth’s Hospitality Group by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,448 shares of the restaurant operator’s stock worth $30,685,000 after buying an additional 149,947 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

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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