Ruby Tuesday Downgraded by Raymond James to “Underperform” (RT)
Ruby Tuesday (NYSE:RT) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
The analysts wrote, “Ruby Tuesday is now a troubled business model.”
Ruby Tuesday (NYSE:RT) traded down 16.95% on Thursday, hitting $6.27. The stock had a trading volume of 4,867,946 shares. Ruby Tuesday has a 52 week low of $6.75 and a 52 week high of $9.90. The stock has a 50-day moving average of $7.47 and a 200-day moving average of $8.47. The company’s market cap is $374.7 million.
Ruby Tuesday (NYSE:RT) last posted its quarterly earnings results on Wednesday, October 9th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.05) by $0.31. The company had revenue of $289.67 million for the quarter, compared to the consensus estimate of $298.60 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. Analysts expect that Ruby Tuesday will post $0.03 EPS for the current fiscal year.
A number of other firms have also recently commented on RT. Analysts at B. Riley initiated coverage on shares of Ruby Tuesday in a research note to investors on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. Separately, analysts at Wunderlich initiated coverage on shares of Ruby Tuesday in a research note to investors on Friday, September 6th. They set a “hold” rating and a $8.00 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Ruby Tuesday from a “sell” rating to a “hold” rating in a research note to investors on Monday, August 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.80.
Ruby Tuesday, Inc, including its wholly-owned subsidiaries, owns and operates Ruby Tuesday, Lime Fresh Mexican, GrillMarlin & Ray’s, and Wok Hay casual dining restaurants.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.