Texas Roadhouse (NASDAQ:TXRH) Raised to “Strong-Buy” at Benchmark

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

Several other equities analysts also recently issued reports on TXRH. Morgan Stanley reissued an “overweight” rating and set a $212.00 price target on shares of Texas Roadhouse in a report on Friday, August 7th. Wells Fargo & Company upped their price objective on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Citigroup lifted their target price on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reduced their target price on Texas Roadhouse from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.76.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $162.48 on Tuesday. The business’s fifty day moving average price is $186.89 and its two-hundred day moving average price is $179.55. Texas Roadhouse has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80. 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 issued its quarterly earnings data 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 return on equity of 27.20% and a net margin of 6.63%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $1.86 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Texas Roadhouse will post 6.61 EPS for the current fiscal year.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the transaction, the director directly owned 2,883 shares of the company’s stock, valued at approximately $588,103.17. The trade was a 18.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider owned 9,826 shares in the company, valued at $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,970 shares of company stock worth $4,061,808. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Texas Roadhouse during the second quarter worth $1,273,173,000. Wellington Management Group LLP boosted its holdings in Texas Roadhouse by 8.4% in the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock valued at $297,920,000 after acquiring an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Texas Roadhouse by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock valued at $142,670,000 after acquiring an additional 34,385 shares during the last quarter. Bessemer Group Inc. increased its position in Texas Roadhouse by 38.1% in the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock worth $120,951,000 after purchasing an additional 202,241 shares during the period. Finally, Bank of America Corp DE bought a new stake in Texas Roadhouse during the 2nd quarter worth about $113,993,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

About Texas Roadhouse

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, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.