Texas Roadhouse (NASDAQ:TXRH) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of Texas Roadhouse (NASDAQ:TXRH) from a sell rating to a strong sell rating in a research note published on Saturday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Texas Roadhouse from $56.00 to $61.00 and gave the company an equal weight rating in a research note on Thursday, December 19th. ValuEngine raised Texas Roadhouse from a hold rating to a buy rating in a research note on Wednesday, October 30th. Deutsche Bank reissued a hold rating and issued a $58.00 target price on shares of Texas Roadhouse in a research note on Wednesday, October 30th. Raymond James raised Texas Roadhouse from a market perform rating to an outperform rating and set a $63.00 target price for the company in a research note on Tuesday, October 29th. Finally, Maxim Group lowered Texas Roadhouse from a buy rating to a hold rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $59.50.

NASDAQ TXRH opened at $56.70 on Friday. Texas Roadhouse has a 1-year low of $47.52 and a 1-year high of $67.67. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $56.50 and a 200-day moving average of $54.14. The firm has a market cap of $3.88 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Monday, October 28th. The restaurant operator reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. Texas Roadhouse had a return on equity of 17.23% and a net margin of 6.15%. The company had revenue of $650.49 million during the quarter, compared to analyst estimates of $648.49 million. During the same quarter in the previous year, the company posted $0.40 EPS. Texas Roadhouse’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Texas Roadhouse will post 2.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, December 10th. Texas Roadhouse’s payout ratio is 54.55%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its position in shares of Texas Roadhouse by 27.7% in the 1st quarter. First Trust Advisors LP now owns 63,746 shares of the restaurant operator’s stock worth $3,964,000 after acquiring an additional 13,833 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Texas Roadhouse by 0.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,535 shares of the restaurant operator’s stock worth $2,284,000 after acquiring an additional 262 shares in the last quarter. Bank of Montreal Can raised its position in shares of Texas Roadhouse by 724.0% in the 2nd quarter. Bank of Montreal Can now owns 6,493 shares of the restaurant operator’s stock worth $349,000 after acquiring an additional 5,705 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Texas Roadhouse by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,067,698 shares of the restaurant operator’s stock worth $57,303,000 after acquiring an additional 5,356 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Texas Roadhouse by 28.7% in the 2nd quarter. Renaissance Technologies LLC now owns 414,172 shares of the restaurant operator’s stock worth $22,229,000 after acquiring an additional 92,400 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

Further Reading: Dividend Reinvestment Plan (DRIP)

Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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