Westpark Capital Remains a Buy on RCI Hospitality Holdings

In a report released today, Ishfaque Faruk from Westpark Capital maintained a Buy rating on RCI Hospitality Holdings (NASDAQ: RICK), with a price target of $34. The company’s shares opened today at $30.98.

Faruk noted:

“We believe Bombshells will become very material for RICK going forward as it is a significant contributor of revenues and earnings, but is also seeing margin expansion. Management stated in the earnings call that they are in advanced negotiations to acquire additional Adult Entertainment clubs. We remain upbeat on RICK, and maintain our Outperform rating and $34 price target.”

Faruk has an average return of 27.9% when recommending RCI Hospitality Holdings.

According to TipRanks.com, Faruk is ranked #4626 out of 4800 analysts.

RCI Hospitality Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $34.

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Based on RCI Hospitality Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $4.69 million. In comparison, last year the company had a net profit of $3.76 million.

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RCI Hospitality Holdings, Inc., through its subsidiaries, engages in the ownership and operation of adult nightclubs, sports bars/restaurants, and media. It operates through the following business segments: Nightclubs, Bombshells, and Other. The Nightclubs segment operates adult nightclubs serving primarily businessmen and professionals.