Zacks Investment Research cut shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) from a hold rating to a sell rating in a research report sent to investors 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 weighed in on RUTH. BidaskClub cut Ruth’s Hospitality Group from a buy rating to a hold rating in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and set a $20.00 price target on shares of Ruth’s Hospitality Group in a report on Sunday, July 30th. Deutsche Bank AG reaffirmed a buy rating and set a $24.00 price target (up previously from $22.50) on shares of Ruth’s Hospitality Group in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Ruth’s Hospitality Group in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Ruth’s Hospitality Group presently has an average rating of Hold and a consensus target price of $20.75.

Ruth’s Hospitality Group (RUTH) opened at 21.25 on Friday. The firm’s 50-day moving average price is $20.25 and its 200 day moving average price is $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 $646.15 million, a PE ratio of 21.00 and a beta of 0.33.

Ruth’s Hospitality Group (NASDAQ:RUTH) last released its quarterly earnings results 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 company had revenue of $100.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, equities analysts anticipate that Ruth’s Hospitality Group will post $1.07 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 1st Global Advisors Inc. acquired a new position in shares of Ruth’s Hospitality Group during the second quarter valued at approximately $360,000. Scotia Capital Inc. increased its stake in shares of Ruth’s Hospitality Group by 17.0% during the second quarter. Scotia Capital Inc. now owns 56,424 shares of the restaurant operator’s stock valued at $1,227,000 after acquiring an additional 8,179 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ruth’s Hospitality Group during the second quarter valued at approximately $970,000. Maverick Capital Ltd. acquired a new position in shares of Ruth’s Hospitality Group during the second quarter valued at approximately $326,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Ruth’s Hospitality Group by 346.0% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 99,900 shares of the restaurant operator’s stock valued at $2,172,000 after acquiring an additional 77,500 shares during the period. Institutional investors and hedge funds 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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