Texas Roadhouse (NASDAQ:TXRH) Upgraded to Strong-Buy at Robert W. Baird

Texas Roadhouse (NASDAQ:TXRH) was upgraded by equities researchers at Robert W. Baird to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Mizuho increased their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Barclays decreased their price target on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Citigroup raised their price target on Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $235.00 target price on shares of Texas Roadhouse in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.48.

Texas Roadhouse Stock Down 1.0%

Shares of Texas Roadhouse stock opened at $203.28 on Monday. Texas Roadhouse has a 12-month low of $153.82 and a 12-month high of $216.30. The stock has a 50 day moving average price of $196.72 and a two-hundred day moving average price of $180.44. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $13.34 billion, a P/E ratio of 32.52, a PEG ratio of 2.03 and a beta of 0.79.

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

Insider Buying and Selling

In other news, General Counsel Sean G. Renfroe sold 426 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the sale, the general counsel directly owned 860 shares of the company’s stock, valued at approximately $165,575.80. This represents a 33.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna E. Epps sold 820 shares of the company’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 sale, the director owned 4,042 shares in the company, valued at $834,915.52. This represents a 16.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,246 shares of company stock valued at $3,908,907 in the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Texas Roadhouse during the second quarter worth $850,000. California State Teachers Retirement System boosted its position in shares of Texas Roadhouse by 19,889.7% during the 2nd quarter. California State Teachers Retirement System now owns 15,417,049 shares of the restaurant operator’s stock worth $2,979,036,000 after acquiring an additional 15,339,924 shares in the last quarter. Nilsine Partners LLC acquired a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $202,000. AXQ Capital LP grew its position in Texas Roadhouse by 98.7% in the second quarter. AXQ Capital LP now owns 10,829 shares of the restaurant operator’s stock valued at $2,092,000 after acquiring an additional 5,379 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Texas Roadhouse during the 2nd quarter valued at approximately $466,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.