Texas Roadhouse Inc. (TXRH) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Texas Roadhouse is a growing, moderately priced, full service restaurant chain. They offer an assortment of specially seasoned and aged steaks hand-cut daily in every restaurant and cooked to order over open gas-fired grills. They also offer their customers, whom they call their guests, a selection of ribs, fish, chicken and vegetable plates, an assortment of hamburgers, salads and sandwiches. “
A number of other research firms have also recently commented on TXRH. Telsey Advisory Group cut Texas Roadhouse from an outperform rating to a market perform rating and set a $48.00 price target for the company. in a research note on Tuesday, July 26th. Jefferies Group cut Texas Roadhouse from a hold rating to an underperform rating and set a $37.00 price target for the company. in a research note on Tuesday, July 26th. Stifel Nicolaus cut Texas Roadhouse from a buy rating to a hold rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Tuesday, July 26th. RBC Capital Markets reiterated a sector perform rating and issued a $46.00 price target (up from $44.00) on shares of Texas Roadhouse in a research note on Tuesday, August 2nd. Finally, Credit Suisse Group AG reiterated a hold rating and issued a $42.00 price target on shares of Texas Roadhouse in a research note on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $43.78.
Texas Roadhouse (NASDAQ:TXRH) traded down 0.37% on Thursday, reaching $38.03. The company had a trading volume of 243,944 shares. The stock has a market capitalization of $2.68 billion, a P/E ratio of 23.92 and a beta of 0.54. The stock’s 50 day moving average is $42.85 and its 200-day moving average is $44.19. Texas Roadhouse has a 1-year low of $33.06 and a 1-year high of $49.00.
Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The company earned $509 million during the quarter, compared to analysts’ expectations of $509.80 million. During the same period last year, the business posted $0.30 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Texas Roadhouse will post $1.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a $0.19 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.99%. Texas Roadhouse’s dividend payout ratio is currently 48.10%.
In other Texas Roadhouse news, CEO Wayne Kent Taylor sold 150,000 shares of Texas Roadhouse stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total value of $6,904,500.00. Following the sale, the chief executive officer now owns 4,363,261 shares in the company, valued at $200,840,903.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Zarley bought 23,800 shares of Texas Roadhouse stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $42.23 per share, for a total transaction of $1,005,074.00. Following the transaction, the director now directly owns 104,000 shares of the company’s stock, valued at $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in Texas Roadhouse by 17.0% in the first quarter. Aperio Group LLC now owns 27,624 shares of the company’s stock worth $1,204,000 after buying an additional 4,007 shares in the last quarter. Virginia Retirement System acquired a new stake in Texas Roadhouse during the first quarter worth approximately $771,000. IFP Advisors Inc increased its stake in Texas Roadhouse by 24.0% in the first quarter. IFP Advisors Inc now owns 2,908 shares of the company’s stock worth $127,000 after buying an additional 563 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in Texas Roadhouse during the first quarter worth approximately $324,000. Finally, Pacad Investment Ltd. acquired a new stake in Texas Roadhouse during the first quarter worth approximately $309,000. Institutional investors own 88.84% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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