BidaskClub Downgrades Texas Roadhouse, Inc. (NASDAQ:TXRH) to Hold
Texas Roadhouse, Inc. (NASDAQ:TXRH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Sunday.
TXRH has been the topic of a number of other reports. Telsey Advisory Group lifted their price objective on shares of Texas Roadhouse from $46.00 to $54.00 and gave the company a “market perform” rating in a research note on Tuesday, May 2nd. Longbow Research reissued a “buy” rating and issued a $56.00 price objective on shares of Texas Roadhouse in a research note on Monday, July 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $53.00 price objective (up from $49.00) on shares of Texas Roadhouse in a research note on Monday, July 10th. Maxim Group reissued a “buy” rating and issued a $52.00 price objective on shares of Texas Roadhouse in a research note on Thursday, April 27th. Finally, BMO Capital Markets raised shares of Texas Roadhouse from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $58.00 in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.55.
Shares of Texas Roadhouse (NASDAQ TXRH) traded down 0.26% on Friday, hitting $50.07. The stock had a trading volume of 306,877 shares. The company has a 50 day moving average of $49.49 and a 200-day moving average of $46.87. Texas Roadhouse has a 12-month low of $37.23 and a 12-month high of $51.91. The firm has a market capitalization of $3.55 billion, a P/E ratio of 31.08 and a beta of 0.56.
Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, May 1st. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $567.70 million for the quarter, compared to analysts’ expectations of $560.74 million. Texas Roadhouse had a net margin of 5.60% and a return on equity of 16.42%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts predict that Texas Roadhouse will post $1.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, June 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 52.50%.
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In other news, Director Kathy Widmer sold 5,200 shares of Texas Roadhouse stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $48.97, for a total transaction of $254,644.00. Following the transaction, the director now owns 13,750 shares in the company, valued at $673,337.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Celia Catlett sold 5,000 shares of Texas Roadhouse stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $50.80, for a total transaction of $254,000.00. Following the transaction, the general counsel now owns 11,837 shares in the company, valued at approximately $601,319.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,537 shares of company stock worth $1,275,317. 7.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of TXRH. Creative Planning raised its position in shares of Texas Roadhouse by 11.2% in the second quarter. Creative Planning now owns 2,223 shares of the restaurant operator’s stock worth $113,000 after buying an additional 224 shares during the period. Bank of Montreal Can raised its position in shares of Texas Roadhouse by 6,112.9% in the second quarter. Bank of Montreal Can now owns 27,399 shares of the restaurant operator’s stock worth $1,396,000 after buying an additional 26,958 shares during the period. Atria Investments LLC raised its position in shares of Texas Roadhouse by 8.0% in the second quarter. Atria Investments LLC now owns 7,271 shares of the restaurant operator’s stock worth $370,000 after buying an additional 541 shares during the period. Nuveen Asset Management LLC raised its position in shares of Texas Roadhouse by 11.4% in the first quarter. Nuveen Asset Management LLC now owns 95,906 shares of the restaurant operator’s stock worth $4,271,000 after buying an additional 9,834 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Texas Roadhouse by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,393 shares of the restaurant operator’s stock worth $151,000 after buying an additional 141 shares during the period. Institutional investors own 88.26% of the company’s stock.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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