Roth Capital Reiterates a Hold Rating on Rave Restaurant Group

By Austin Angelo

In a report released today, Anton Brenner from Roth Capital reiterated a Hold rating on Rave Restaurant Group (NASDAQ: RAVE), with a price target of $2.50. The company’s shares opened today at $2.34, close to its 52-week low of $1.92.

Brenner said:

“We would await an improvement in sales trends and indications of a return to profitability before accumulating the stock.”

According to TipRanks.com, Brenner is a 4-star analyst with an average return of 4.9% and a 54.1% success rate. Brenner covers the Services sector, focusing on stocks such as Good Times Restaurants Inc., BJ’s Restaurants, and Denny’s Corp.

Rave Restaurant Group has an analyst consensus of Hold, with a price target consensus of $2.50.

Based on Rave Restaurant Group’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $15.7 million and GAAP net loss of $2.27 million. In comparison, last year the company earned revenue of $14.54 million and had a GAAP net loss of $557K.

Rave Restaurant Group, Inc. is a holding company, which engages in the operation and franchising of restaurants under the Pizza Inn and Pie Five brands. The Pizza Inn brand operates and franchises buffet restaurants, delivery/carry-out restaurants and express restaurants domestically and internationally. The Pie Five brand provides a casual pizza concept that creates and bakes individualized pizzas. The company was founded in 1958 and is headquartered in The Colony, TX.