Texas Roadhouse, Inc. (TXRH) Research Coverage Started at Stifel Nicolaus
Stifel Nicolaus started coverage on shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $55.00 price objective on the restaurant operator’s stock.
Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets raised shares of Texas Roadhouse from a market perform rating to an outperform rating and increased their target price for the company from $48.00 to $58.00 in a research note on Thursday, June 22nd. BidaskClub downgraded shares of Texas Roadhouse from a buy rating to a hold rating in a research note on Sunday, July 16th. Deutsche Bank AG reissued a hold rating and issued a $53.00 target price (up previously from $49.00) on shares of Texas Roadhouse in a research note on Monday, July 10th. Longbow Research reissued a buy rating and issued a $56.00 target price on shares of Texas Roadhouse in a research note on Monday, July 3rd. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of Texas Roadhouse in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Texas Roadhouse has an average rating of Hold and an average target price of $50.79.
Shares of Texas Roadhouse (TXRH) opened at 48.68 on Monday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 29.31 and a beta of 0.57. The firm has a 50-day moving average of $47.98 and a 200-day moving average of $48.17. Texas Roadhouse has a one year low of $37.55 and a one year high of $51.91.
Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, July 31st. The restaurant operator reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Texas Roadhouse had a net margin of 5.63% and a return on equity of 16.49%. The business had revenue of $566.30 million for the quarter, compared to the consensus estimate of $563.23 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts forecast that Texas Roadhouse will post $1.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, September 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, September 12th. Texas Roadhouse’s payout ratio is 50.60%.
In related news, insider S. Chris Jacobsen sold 2,500 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $49.25, for a total value of $123,125.00. Following the completion of the transaction, the insider now directly owns 15,184 shares of the company’s stock, valued at approximately $747,812. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathy Widmer sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $47.95, for a total transaction of $95,900.00. Following the completion of the transaction, the director now directly owns 11,750 shares of the company’s stock, valued at $563,412.50. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Texas Roadhouse by 22,841.1% during the 1st quarter. BlackRock Inc. now owns 6,542,337 shares of the restaurant operator’s stock worth $291,331,000 after buying an additional 6,513,819 shares during the last quarter. Janus Henderson Group PLC raised its position in Texas Roadhouse by 332.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,967,343 shares of the restaurant operator’s stock worth $100,236,000 after buying an additional 1,512,352 shares during the last quarter. FMR LLC raised its position in Texas Roadhouse by 130.5% during the 2nd quarter. FMR LLC now owns 1,400,306 shares of the restaurant operator’s stock worth $71,346,000 after buying an additional 792,906 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Texas Roadhouse during the 2nd quarter worth approximately $37,869,000. Finally, Janus Capital Management LLC raised its position in Texas Roadhouse by 114.2% during the 1st quarter. Janus Capital Management LLC now owns 1,202,544 shares of the restaurant operator’s stock worth $53,549,000 after buying an additional 641,045 shares during the last quarter. 85.98% of the stock is owned by hedge funds and other institutional investors.
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, 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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