Texas Roadhouse (NASDAQ:TXRH) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other equities research analysts also recently weighed in on TXRH. TD Cowen initiated coverage on shares of Texas Roadhouse in a research note on Tuesday, January 20th. They set a “buy” rating and a $215.00 price target on the stock. Stephens lifted their price objective on Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Wells Fargo & Company cut their price objective on Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Sanford C. Bernstein set a $185.00 price objective on Texas Roadhouse in a report on Wednesday, January 7th. Finally, KeyCorp reissued a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.14.

Texas Roadhouse Price Performance

TXRH opened at $158.29 on Friday. Texas Roadhouse has a fifty-two week low of $156.00 and a fifty-two week high of $199.99. The firm’s fifty day moving average price is $168.05 and its two-hundred day moving average price is $172.95. The company has a market capitalization of $10.44 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.81 and a beta of 0.77.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts expect that Texas Roadhouse will post 6.34 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.9%. Texas Roadhouse’s dividend payout ratio (DPR) is 49.26%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 850 shares of Texas Roadhouse stock in a transaction on Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the completion of the transaction, the director directly owned 4,892 shares of the company’s stock, valued at approximately $843,625.40. This trade represents a 14.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory N. Moore sold 1,700 shares of Texas Roadhouse stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $171.59, for a total value of $291,703.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,988 shares of company stock valued at $2,218,144. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pittenger & Anderson Inc. bought a new position in shares of Texas Roadhouse in the first quarter valued at about $300,000. Fifth Third Bancorp raised its holdings in shares of Texas Roadhouse by 2,346.4% in the first quarter. Fifth Third Bancorp now owns 15,755 shares of the restaurant operator’s stock valued at $2,602,000 after buying an additional 15,111 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Texas Roadhouse by 182.2% in the first quarter. Hsbc Holdings PLC now owns 24,906 shares of the restaurant operator’s stock valued at $4,115,000 after buying an additional 16,080 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Texas Roadhouse in the first quarter valued at about $80,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Texas Roadhouse by 2.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,573 shares of the restaurant operator’s stock valued at $2,241,000 after buying an additional 363 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

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.