Texas Roadhouse (NASDAQ:TXRH) Stock Bumped Up to Overweight by Stephens

Texas Roadhouse (NASDAQ:TXRH) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has a $205.00 price objective on the restaurant operator’s stock. Stephens’ price objective would indicate a potential upside of 19.90% from the company’s current price.

Several other research firms have also issued reports on TXRH. UBS Group lifted their price objective on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Mizuho upped their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Wells Fargo & Company upped their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a report on Monday, August 3rd. Finally, Jefferies Financial Group upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating and increased their target price for the stock from $186.00 to $190.00 in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Texas Roadhouse currently has an average rating of “Moderate Buy” and a consensus target price of $209.27.

Texas Roadhouse Stock Performance

NASDAQ TXRH traded up $4.33 during trading hours on Thursday, reaching $170.97. The company’s stock had a trading volume of 2,107,071 shares, compared to its average volume of 1,069,365. The business has a 50-day simple moving average of $182.30 and a 200 day simple moving average of $179.34. The stock has a market cap of $11.22 billion, a PE ratio of 27.36, a PEG ratio of 1.61 and a beta of 0.80. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse has a 52 week low of $153.82 and a 52 week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts predict that Texas Roadhouse will post 6.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 820 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the sale, the director directly owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 19,970 shares of company stock worth $4,061,808. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Texas Roadhouse

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Texas Roadhouse during the 2nd quarter worth approximately $1,273,173,000. Bank of America Corp DE acquired a new position in Texas Roadhouse during the 2nd quarter worth approximately $113,993,000. Park Presidio Capital LLC acquired a new position in Texas Roadhouse during the 2nd quarter worth approximately $102,977,000. Bank of New York Mellon Corp acquired a new position in Texas Roadhouse during the 2nd quarter worth approximately $95,158,000. Finally, Bamco Inc. NY acquired a new position in Texas Roadhouse during the 2nd quarter worth approximately $60,148,000. Institutional investors 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.