UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Ruth's Hospitality Group
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Ruth's Hospitality Group (NASDAQ: RUTH), and slightly raised its price target from $8.50 to $9.00.
Jefferies noted, “EPS $0.02 beat our/cons $0.01. Ruth's SSS 5.9% vs our 5%/cons 4.8%. Sales leverage kept mgns steady despite cont'd beef infl. & higher mktg costs. Traffic up at both concepts & into Oct (Ruth's MSD, Mitchell's LSD). '13 beef infl. likely +10%+, but downside is relatively limited at current 11x '13 P/E given cont'd sales momentum. '12/13 EPS to $0.50/0.56 (fr. $0.48/0.54). PT $9 (fr. $8.50).”
Ruth's Hospitality Group closed on Tuesday at $6.30.
Latest Ratings for RUTH
|Oct 2016||Raymond James||Upgrades||Market Perform||Outperform|
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