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Upgrade Alert for Ruth's Hospitality (RUTH)

By Nick Russo

Ruth's Hospitality (NASDAQ:RUTH) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $14.35 on volume of 201,000 shares, below average daily volume of 298,000.

Ruth's Hospitality has overhead space with shares priced $14.35, or 24.5% below the average consensus analyst price target of $19.00. The stock should run into initial resistance at its 200-day moving average (MA) of $16.63 and subsequent resistance at its 50-day MA of $17.55.

Over the past year, Ruth's Hospitality has traded in a range of $5.65 to $18.78 and closed yesterday at $14.35, 154% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Ruth's Hospitality Group Inc. operates a chain of upscale steak houses. The Company's restaurants are located throughout the United States and in several international locations.

SmarTrend recommended that its subscribers protect gains by selling shares of Ruth's Hospitality on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $16.17. Since that call, shares of Ruth's Hospitality have fallen 13.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades ruth's hospitality

Ticker(s): RUTH