Texas Roadhouse (NASDAQ:TXRH) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks reports.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank reissued a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a research note on Monday, August 3rd. Seaport Research Partners started coverage on shares of Texas Roadhouse in a research note on Wednesday, September 16th. They issued a “buy” rating and a $195.00 target price for the company. Citigroup lifted their target price on shares of Texas Roadhouse from $189.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, November 6th. Robert W. Baird upgraded shares of Texas Roadhouse to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Royal Bank Of Canada cut their price target on shares of Texas Roadhouse from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.04.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded down $0.01 during midday trading on Thursday, hitting $185.98. The company had a trading volume of 715,207 shares, compared to its average volume of 1,247,134. The company’s 50 day simple moving average is $172.19 and its 200 day simple moving average is $179.03. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.38 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $1.36 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.01% and a net margin of 6.59%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company earned $1.25 EPS. Texas Roadhouse’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse will post 6.37 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, December 1st. Texas Roadhouse’s dividend payout ratio (DPR) is currently 47.17%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 1,316 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $190.19, for a total transaction of $250,290.04. Following the transaction, the director directly owned 4,045 shares in the company, valued at approximately $769,318.55. This represents a 24.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lloyd Marshall sold 500 shares of the stock in a transaction dated 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 approximately $2,010,890.90. This trade represents a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,286 shares of company stock valued at $3,687,138. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors have recently modified their holdings of TXRH. Lido Advisors LLC lifted its position in shares of Texas Roadhouse by 0.8% in the third quarter. Lido Advisors LLC now owns 7,528 shares of the restaurant operator’s stock worth $1,177,000 after purchasing an additional 59 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Texas Roadhouse by 3.3% during the third quarter. Signaturefd LLC now owns 1,905 shares of the restaurant operator’s stock worth $298,000 after purchasing an additional 61 shares during the period. Allspring Global Investments Holdings LLC grew its position in Texas Roadhouse by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,387 shares of the restaurant operator’s stock valued at $374,000 after purchasing an additional 61 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Texas Roadhouse by 3.9% in the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock valued at $300,000 after buying an additional 68 shares during the period. Finally, Summitry LLC lifted its position in Texas Roadhouse by 1.9% in the 1st quarter. Summitry LLC now owns 4,140 shares of the restaurant operator’s stock worth $684,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc. operates and franchises casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for a lively atmosphere and made-from-scratch food. The Texas Roadhouse menu features hand-cut steaks, ribs, chicken, seafood and made-from-scratch sides, along with freshly baked bread. Bubba’s 33 offers a sports-bar setting with items such as burgers, pizza and wings, while Jaggers focuses on burgers, chicken sandwiches and salads. Founded in 1993 in Clarksville, Indiana, Texas Roadhouse is headquartered in Louisville, Kentucky.