RCI Hospitality (RICK) Raised to “Buy” at Zacks Investment Research

RCI Hospitality (NASDAQ:RICK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $38.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.90% from the company’s current price.

According to Zacks, “RCI Hospitality Holdings, Inc. owns and/or operates adult nightclubs that offer live adult entertainment, restaurant, and bar services. It operates adult nightclubs under the name Rick’s Cabaret, Club Onyx, XTC Cabaret, Tootsie’s Cabaret, Cabaret North, Jaguars and Cabaret East. The Company also owns and operates adult Internet Websites. RCI Hospitality Holdings, Inc., formerly known as Rick’s Cabaret International, Inc., is based in Houston, Texas. “

A number of other brokerages have also weighed in on RICK. Westpark Capital restated a “buy” rating and issued a $34.00 price objective on shares of RCI Hospitality in a report on Wednesday, May 16th. BidaskClub upgraded shares of RCI Hospitality from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. TheStreet upgraded shares of RCI Hospitality from a “c+” rating to a “b” rating in a report on Wednesday, May 16th. Finally, ValuEngine lowered shares of RCI Hospitality from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. RCI Hospitality currently has an average rating of “Buy” and a consensus target price of $36.00.

Shares of NASDAQ RICK opened at $32.23 on Wednesday. RCI Hospitality has a twelve month low of $21.91 and a twelve month high of $34.84. The company has a market capitalization of $320.89 million, a P/E ratio of 22.54 and a beta of 0.49. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 0.75.

RCI Hospitality (NASDAQ:RICK) last announced its quarterly earnings data on Thursday, August 9th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. RCI Hospitality had a net margin of 13.48% and a return on equity of 13.85%. The company had revenue of $42.63 million during the quarter, compared to analyst estimates of $40.97 million. sell-side analysts expect that RCI Hospitality will post 2.17 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio raised its stake in RCI Hospitality by 7.5% during the 2nd quarter. Strs Ohio now owns 24,300 shares of the restaurant operator’s stock valued at $769,000 after buying an additional 1,700 shares during the last quarter. Wells Fargo & Company MN raised its stake in RCI Hospitality by 13.5% during the 4th quarter. Wells Fargo & Company MN now owns 15,500 shares of the restaurant operator’s stock valued at $434,000 after buying an additional 1,843 shares during the last quarter. ClariVest Asset Management LLC raised its stake in RCI Hospitality by 10.7% during the 1st quarter. ClariVest Asset Management LLC now owns 19,478 shares of the restaurant operator’s stock valued at $553,000 after buying an additional 1,877 shares during the last quarter. California Public Employees Retirement System raised its stake in RCI Hospitality by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 37,131 shares of the restaurant operator’s stock valued at $1,175,000 after buying an additional 2,031 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in RCI Hospitality by 12.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 22,659 shares of the restaurant operator’s stock valued at $717,000 after buying an additional 2,430 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in two segments, Nightclubs and Bombshells. The company owns and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Temptations Adult Cabaret, Scarlett's Cabaret, Silver City Cabaret, Cabaret East, and The Seville brands.

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