Texas Roadhouse (NASDAQ:TXRH) Downgraded by Zacks Research to Strong Sell

Texas Roadhouse (NASDAQ:TXRH) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Citigroup increased their target price on Texas Roadhouse from $180.00 to $197.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Guggenheim restated a “buy” rating and set a $210.00 target price on shares of Texas Roadhouse in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Finally, Melius assumed coverage on Texas Roadhouse in a research report on Monday, July 14th. They issued a “buy” rating and a $235.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Texas Roadhouse Stock Down 1.3%

Shares of NASDAQ:TXRH opened at $176.39 on Wednesday. The business has a 50 day moving average price of $169.24 and a 200 day moving average price of $177.27. Texas Roadhouse has a twelve month low of $148.73 and a twelve month high of $206.04. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.65 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.79 EPS. Texas Roadhouse’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the transaction, the president directly owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director directly owned 34,550 shares of the company’s stock, valued at approximately $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,342 shares of company stock valued at $1,443,704. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. raised its holdings in shares of Texas Roadhouse by 8.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 5,271 shares of the restaurant operator’s stock worth $876,000 after buying an additional 409 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Texas Roadhouse in the 3rd quarter worth approximately $479,000. HB Wealth Management LLC raised its holdings in shares of Texas Roadhouse by 51.0% in the 3rd quarter. HB Wealth Management LLC now owns 2,320 shares of the restaurant operator’s stock worth $385,000 after buying an additional 784 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Texas Roadhouse during the 3rd quarter valued at $878,000. Finally, KLP Kapitalforvaltning AS increased its holdings in Texas Roadhouse by 1.4% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 14,400 shares of the restaurant operator’s stock valued at $2,393,000 after purchasing an additional 200 shares in the last quarter. 94.82% 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. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.