Texas Roadhouse Inc. (TXRH) Raised to “Buy” at Maxim Group
Texas Roadhouse Inc. (NASDAQ:TXRH) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $48.00 target price on the stock. Maxim Group’s price target would suggest a potential upside of 26.15% from the company’s previous close.
TXRH has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Canaccord Genuity started coverage on shares of Texas Roadhouse in a research report on Monday, August 22nd. They issued a “hold” rating and a $48.00 target price on the stock. Robert W. Baird reaffirmed a “neutral” rating on shares of Texas Roadhouse in a research report on Thursday, September 8th. Jefferies Group downgraded shares of Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 target price on the stock. in a research report on Tuesday, July 26th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $50.00 target price on shares of Texas Roadhouse in a research report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.78.
Texas Roadhouse (NASDAQ:TXRH) opened at 38.05 on Tuesday. The company has a 50-day moving average of $41.42 and a 200 day moving average of $43.98. The company has a market cap of $2.68 billion, a P/E ratio of 23.93 and a beta of 0.54. Texas Roadhouse has a 52 week low of $33.06 and a 52 week high of $49.00.
Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm earned $509 million during the quarter, compared to the consensus estimate of $509.80 million. Texas Roadhouse had a net margin of 5.88% and a return on equity of 16.78%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities analysts forecast that Texas Roadhouse will post $1.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.00%. Texas Roadhouse’s dividend payout ratio is currently 48.10%.
In other news, CEO Wayne Kent Taylor sold 150,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,363,261 shares in the company, valued at approximately $200,840,903.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Zarley bought 23,800 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $42.23 per share, with a total value of $1,005,074.00. Following the completion of the transaction, the director now directly owns 104,000 shares in the company, valued at approximately $4,391,920. The disclosure for this purchase can be found here. Insiders own 7.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Texas Roadhouse by 52.1% in the second quarter. State Street Corp now owns 2,036,118 shares of the company’s stock worth $92,845,000 after buying an additional 697,515 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Texas Roadhouse during the second quarter worth about $21,691,000. WBI Investments Inc. bought a new stake in shares of Texas Roadhouse during the second quarter worth about $18,654,000. Nationwide Fund Advisors increased its stake in shares of Texas Roadhouse by 527.3% in the second quarter. Nationwide Fund Advisors now owns 453,189 shares of the company’s stock worth $20,665,000 after buying an additional 380,945 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Texas Roadhouse by 17.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,853,358 shares of the company’s stock worth $84,513,000 after buying an additional 269,634 shares in the last quarter. Hedge funds and other institutional investors own 88.68% 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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