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

Benchmark upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks reports.

A number of other equities research analysts also recently commented on the company. Stephens lifted their price objective on Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Robert W. Baird upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Monday, August 24th. Citigroup raised their price target on Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Piper Sandler lifted their price target on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Texas Roadhouse in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Texas Roadhouse presently has an average rating of “Moderate Buy” and a consensus price target of $209.76.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $163.57 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The firm has a market cap of $10.74 billion, a PE ratio of 26.17, a P/E/G ratio of 1.57 and a beta of 0.80. The firm has a 50 day simple moving average of $187.82 and a 200-day simple moving average of $179.61. Texas Roadhouse has a 1-year low of $153.82 and a 1-year high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. Texas Roadhouse’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 earnings per share. On average, equities analysts expect that Texas Roadhouse will post 6.61 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Roadhouse’s payout ratio is currently 48.00%.

Insider Activity

In other Texas Roadhouse news, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at $588,103.17. The trade was a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Moore sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares of the company’s stock, valued at $5,603,808. The trade was a 10.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 over the last quarter. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of large investors have recently modified their holdings of TXRH. Ranger Investment Management L.P. purchased a new position in Texas Roadhouse in the second quarter valued at about $21,560,000. The Manufacturers Life Insurance Company purchased a new stake in Texas Roadhouse during the 2nd quarter worth approximately $9,473,000. J. Goldman & Co LP acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $10,434,000. Bamco Inc. NY acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $60,148,000. Finally, Callan Family Office LLC purchased a new position in shares of Texas Roadhouse during the 2nd quarter valued at approximately $1,449,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

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.