Texas Roadhouse (NASDAQ:TXRH) Upgraded at Seaport Research Partners

Texas Roadhouse (NASDAQ:TXRH) was upgraded by equities researchers at Seaport Research Partners to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

Several other research firms also recently weighed in on TXRH. Wells Fargo & Company lifted their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Texas Roadhouse in a research note on Friday, August 7th. Piper Sandler raised their price target on Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. BTIG Research lifted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, TD Cowen boosted their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.40.

Texas Roadhouse Trading Up 0.2%

Shares of TXRH stock opened at $170.07 on Tuesday. Texas Roadhouse has a 1-year low of $153.82 and a 1-year high of $216.30. The firm has a market cap of $11.16 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. The company has a 50-day moving average of $196.91 and a two-hundred day moving average of $180.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $1.86 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Texas Roadhouse will post 6.64 EPS for the current year.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna Epps sold 820 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the transaction, the director owned 4,042 shares of the company’s stock, valued at $834,915.52. This trade represents a 16.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lloyd Marshall sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the transaction, the insider directly owned 9,826 shares of the company’s stock, valued at $2,010,890.90. This represents a 4.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,396 shares of company stock worth $4,143,825 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TXRH. Ranger Investment Management L.P. acquired a new stake in Texas Roadhouse during the 2nd quarter worth $21,560,000. The Manufacturers Life Insurance Company acquired a new position in Texas Roadhouse in the second quarter valued at $9,473,000. Callan Family Office LLC acquired a new position in Texas Roadhouse in the second quarter valued at $1,449,000. J. Goldman & Co LP purchased a new position in shares of Texas Roadhouse during the second quarter worth about $10,434,000. Finally, Bamco Inc. NY purchased a new position in shares of Texas Roadhouse during the second quarter worth about $60,148,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company’s concepts include Texas Roadhouse steakhouses, Bubba’s 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.