Piper Jaffray Maintains Overweight on Ruth's Hospitality Group (RUTH)

Piper Jaffray is out with its report today on Ruth's Hospitality Group (NASDAQ: RUTH), maintaining Overweight.

In a note to clients, Piper Jaffray writes, "Travel data showed continued improvement in March, which we highlight as a positive update for RUTH shares. Steadily improving, highly-correlated industry metrics, such as hotel RevPAR, remain in positive territory with 9.6% y/y growth in March, and luxury hotel RevPAR at 14.0% y/y which again trumped overall RevPAR. We maintain our Overweight rating and $9 price target on RUTH shares."

Shares of RUTH closed Friday at $5.04, down 1.95% from Thursday's close.