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Ruby Tuesday (NYSE:RT)’s share price shot up 6% on Monday following insider buying activity, American Banking and Market News reports. The stock traded as high as $6.43 and last traded at $6.41, with a volume of 715,933 shares. The stock had previously closed at $6.05.

Specifically, Insider James J. Buettgen bought 50,000 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $6.08 per share, for a total transaction of $304,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Separately, analysts at Telsey Advisory Group raised their price target on shares of Ruby Tuesday from $7.00 to $8.00 in a research note on Wednesday, July 30th. They now have a “not rated” rating on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Ruby Tuesday presently has a consensus rating of “Hold” and an average target price of $8.33.

The stock’s 50-day moving average is $6.75 and its 200-day moving average is $6.68. The company’s market cap is $386.9 million.

Ruby Tuesday (NYSE:RT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.06. The company had revenue of $307.30 million for the quarter, compared to the consensus estimate of $303.80 million. During the same quarter last year, the company posted $0.12 earnings per share. Ruby Tuesday’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that Ruby Tuesday will post $-0.19 EPS for the current fiscal year.

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.

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