Texas Roadhouse (NASDAQ:TXRH) had its price objective increased by Morgan Stanley from $56.00 to $67.00 in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. They currently have an equal weight rating on the restaurant operator’s stock.
TXRH has been the subject of a number of other reports. MKM Partners began coverage on shares of Texas Roadhouse in a research note on Wednesday, September 16th. They set a neutral rating and a $68.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Texas Roadhouse from $51.00 to $59.00 and gave the company a sector perform rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. raised shares of Texas Roadhouse from an underweight rating to a neutral rating and set a $55.00 price objective for the company in a research report on Wednesday, June 24th. BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $58.00 to $62.00 and gave the company a market perform rating in a research report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Texas Roadhouse from $47.00 to $58.00 and gave the company a hold rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Roadhouse presently has a consensus rating of Hold and an average price target of $62.28.
Shares of TXRH opened at $73.87 on Wednesday. The firm has a market cap of $5.13 billion, a PE ratio of 83.94, a P/E/G ratio of 19.84 and a beta of 0.95. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $64.62 and a two-hundred day simple moving average of $54.45. Texas Roadhouse has a 1-year low of $25.15 and a 1-year high of $74.35.
Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, August 3rd. The restaurant operator reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.14. The business had revenue of $476.43 million during the quarter, compared to analyst estimates of $474.75 million. Texas Roadhouse had a net margin of 2.46% and a return on equity of 6.79%. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast that Texas Roadhouse will post 0.32 EPS for the current fiscal year.
In other Texas Roadhouse news, CFO Tonya Robinson sold 3,084 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $55.00, for a total transaction of $169,620.00. Following the completion of the transaction, the chief financial officer now owns 11,476 shares of the company’s stock, valued at approximately $631,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Zarley sold 13,100 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $59.80, for a total transaction of $783,380.00. Following the transaction, the director now directly owns 104,743 shares of the company’s stock, valued at approximately $6,263,631.40. The disclosure for this sale can be found here. Insiders have sold a total of 225,634 shares of company stock valued at $13,868,605 in the last three months. Insiders own 6.16% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new position in shares of Texas Roadhouse during the 2nd quarter valued at about $38,000. Captrust Financial Advisors purchased a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $69,000. FDx Advisors Inc. purchased a new stake in shares of Texas Roadhouse during the 1st quarter valued at about $247,000. Cerebellum GP LLC purchased a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $122,000. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $131,000. 93.33% of the stock is owned by institutional investors and hedge funds.
About Texas Roadhouse
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of December 31, 2019, it operated 514 domestic restaurants and 97 franchise restaurants.
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