Texas Roadhouse (NASDAQ:TXRH) Stock Price Up 5.3% After Analyst Upgrade

Shares of Texas Roadhouse Inc (NASDAQ:TXRH) were up 5.3% during trading on Thursday after BMO Capital Markets raised their price target on the stock from $58.00 to $62.00. BMO Capital Markets currently has a market perform rating on the stock. Texas Roadhouse traded as high as $64.03 and last traded at $63.99. Approximately 921,166 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,375,756 shares. The stock had previously closed at $60.79.

A number of other equities analysts also recently commented on the stock. Raymond James increased their price objective on shares of Texas Roadhouse from $59.00 to $67.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 4th. Deutsche Bank increased their price target on Texas Roadhouse from $47.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Stephens lowered Texas Roadhouse from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 27th. Longbow Research upped their price objective on Texas Roadhouse from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, BidaskClub raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Texas Roadhouse currently has a consensus rating of “Hold” and a consensus target price of $61.34.

In other Texas Roadhouse news, CFO Tonya Robinson sold 3,084 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $55.00, for a total value of $169,620.00. Following the transaction, the chief financial officer now directly owns 11,476 shares of the company’s stock, valued at approximately $631,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Zarley sold 13,100 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $59.80, for a total value of $783,380.00. Following the transaction, the director now owns 104,743 shares in the company, valued at approximately $6,263,631.40. The disclosure for this sale can be found here. Insiders have sold 225,634 shares of company stock valued at $13,868,605 over the last 90 days. Company insiders own 6.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Texas Roadhouse during the first quarter worth approximately $35,000. Rockefeller Capital Management L.P. acquired a new position in Texas Roadhouse in the 2nd quarter valued at $38,000. Captrust Financial Advisors bought a new stake in shares of Texas Roadhouse during the 2nd quarter valued at $69,000. Cerebellum GP LLC acquired a new stake in shares of Texas Roadhouse during the 2nd quarter worth $122,000. Finally, Glenmede Trust Co. NA bought a new position in shares of Texas Roadhouse in the second quarter worth $131,000. 93.33% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $4.22 billion, a P/E ratio of 69.08, a PEG ratio of 19.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.89 and a quick ratio of 0.84. The company’s 50-day moving average is $62.55 and its two-hundred day moving average is $52.19.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, August 3rd. The restaurant operator reported ($0.48) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.14. The company had revenue of $476.43 million during the quarter, compared to the consensus estimate of $474.75 million. Texas Roadhouse had a net margin of 2.46% and a return on equity of 6.79%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, analysts expect that Texas Roadhouse Inc will post 0.32 EPS for the current fiscal year.

About Texas Roadhouse (NASDAQ:TXRH)

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.

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