The stock of Ruby Tuesday, Inc. (NYSE:RT) hit a new 52-week low and has $2.16 target or 12.00% below today’s $2.46 share price. The 6 months bearish chart indicates high risk for the $141.29M company. The 1-year low was reported on Sep, 30 by Barchart.com. If the $2.16 price target is reached, the company will be worth $16.95 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 324,363 shares traded hands. Ruby Tuesday, Inc. (NYSE:RT) has declined 51.89% since February 26, 2016 and is downtrending. It has underperformed by 62.31% the S&P500.
Analysts await Ruby Tuesday, Inc. (NYSE:RT) to report earnings on October, 13.
According to Zacks Investment Research, “Ruby Tuesday operates casual dining concepts comprised of Ruby Tuesday, Mozzarella’s & Tia’s. Ruby Tuesdays are casual, full-service restaurants with whimsical artifacts, classic brass & Tiffany lamps which create a comfortable, nostalgic look & feel. Mozzarella’s is a full-service restaurant with a menu that features a variety of pastas & thin-crust pizzas, along with made-from-scratch soups, entree salads & sandwiches. Tia’s, is a full-service casual dining restaurant.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.64, from 1.64 in 2016Q1. The ratio is negative, as 12 funds sold all Ruby Tuesday, Inc. shares owned while 43 reduced positions. 17 funds bought stakes while 38 increased positions. They now own 50.93 million shares or 2.16% less from 52.05 million shares in 2016Q1.
Blackrock last reported 16,003 shares in the company. Northern Trust last reported 0% of its portfolio in the stock. Morgan Stanley accumulated 0% or 251,691 shares. Bank & Trust Of America Corp De accumulated 6,086 shares or 0% of the stock. Blackrock Limited reported 60,810 shares or 0% of all its holdings. Foundry Prns Limited Liability, a Minnesota-based fund reported 246,850 shares. Cubist Systematic Strategies Ltd Com reported 13,889 shares or 0% of all its holdings. Nomura Holding accumulated 19,573 shares or 0% of the stock. Franklin Res has invested 0.01% of its portfolio in Ruby Tuesday, Inc. (NYSE:RT). Tiaa Cref Inv Ltd Liability Co has invested 0% of its portfolio in Ruby Tuesday, Inc. (NYSE:RT). State Board Of Administration Of Florida Retirement Systems holds 0% or 63,242 shares in its portfolio. Jpmorgan Chase & Com accumulated 501,014 shares or 0% of the stock. Louisiana State Employees Retirement System reported 26,700 shares or 0.01% of all its holdings. The Illinois-based Driehaus Capital Management Lc has invested 0.24% in Ruby Tuesday, Inc. (NYSE:RT). The Virginia-based Thompson Siegel & Walmsley Limited Liability has invested 0% in Ruby Tuesday, Inc. (NYSE:RT).
More recent Ruby Tuesday, Inc. (NYSE:RT) news were published by: Businesswire.com which released: “Ruby Tuesday, Inc. Announces Sale of Church Street Building and Consolidation …” on September 22, 2016. Also Finance.Yahoo.com published the news titled: “Ruby Tuesday, Inc. Reports Fourth Quarter and Fiscal Year 2016 Financial Results” on August 11, 2016. Businesswire.com‘s news article titled: “Ruby Tuesday, Inc. Announces Management Changes and Preliminary Fiscal First …” with publication date: September 13, 2016 was also an interesting one.
RT Company Profile
Ruby Tuesday, Inc., incorporated on January 19, 1996, owns and operates Ruby Tuesday casual dining and Lime Fresh Mexican Grill (Lime Fresh) casual restaurants. The Firm also franchises the Ruby Tuesday concept in selected domestic and international markets, and the Lime Fresh concept in selected domestic markets. The Company’s divisions include Ruby Tuesday concept and Lime Fresh concept. As of March 1, 2016, the Company operated 729 Ruby Tuesday restaurants in 44 states, 13 foreign countries, and Guam, and there were 16 Lime Fresh restaurants in two states. Of those restaurants, it owned and operated over 649 Ruby Tuesday restaurants and franchised approximately 80 Ruby Tuesday restaurants, which consisted of 28 domestic and 52 international restaurants. It also owned and operated over eight Lime Fresh restaurants and franchised approximately eight Lime Fresh domestic restaurants. The Company’s corporate-owned and operated restaurants are concentrated primarily in the Southeast, Northeast, Mid-Atlantic and Midwest of the United States.
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