Texas Roadhouse (NASDAQ:TXRH) Stock Rating Raised to “Overweight” at Stephens

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

Several other brokerages have also recently commented on TXRH. Mizuho boosted their price target on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. TD Cowen boosted their price target on shares of Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Vertical Research upgraded shares of Texas Roadhouse to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $235.00 target price on shares of Texas Roadhouse in a research report on Monday, August 3rd. Finally, Piper Sandler upped their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.27.

Texas Roadhouse Price Performance

TXRH stock traded up $4.33 during mid-day trading on Thursday, hitting $170.97. The company had a trading volume of 2,098,164 shares, compared to its average volume of 1,069,360. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.61 and a beta of 0.80. Texas Roadhouse has a 12-month low of $153.82 and a 12-month high of $216.30. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $182.30 and a 200 day moving average price of $179.34.

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

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald Morgan sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the sale, the chief executive officer directly owned 80,970 shares of the company’s stock, valued at $16,369,704.90. The trade was a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna Epps sold 820 shares of the business’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 value of $169,379.20. Following the sale, the director directly owned 4,042 shares in the company, valued at $834,915.52. The trade was a 16.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC boosted its holdings in Texas Roadhouse by 5,033.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 151 shares during the period. Silvant Capital Management LLC purchased a new position in Texas Roadhouse during the 2nd quarter valued at $32,000. Coppell Advisory Solutions LLC purchased a new position in Texas Roadhouse during the 2nd quarter valued at $38,000. Western Wealth Management LLC purchased a new position in Texas Roadhouse during the 1st quarter valued at $47,000. Finally, Bank & Trust Co boosted its holdings in Texas Roadhouse by 68.1% during the 2nd quarter. Bank & Trust Co now owns 306 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 124 shares during the period. 94.82% of the stock is currently owned by institutional investors.

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.