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

Texas Roadhouse (NASDAQ:TXRH) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $205.00 price target on the restaurant operator’s stock. Stephens’ price target indicates a potential upside of 20.47% from the company’s current price.

Other research analysts have also issued research reports about the stock. Vertical Research raised shares of Texas Roadhouse to a “buy” rating in a research note on Wednesday. Benchmark upgraded shares of Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 price target on shares of Texas Roadhouse in a research note on Monday, August 3rd. TD Cowen upped their price target on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Piper Sandler increased their price target on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.27.

Texas Roadhouse Trading Up 2.1%

Shares of TXRH stock traded up $3.53 during trading hours on Thursday, hitting $170.17. The company had a trading volume of 1,001,915 shares, compared to its average volume of 1,063,542. 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 company’s fifty day moving average is $182.30 and its 200 day moving average is $179.34. Texas Roadhouse has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The stock has a market capitalization of $11.17 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80.

Texas Roadhouse (NASDAQ:TXRH) last released 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. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business posted $1.86 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Texas Roadhouse will post 6.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna Epps sold 820 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the transaction, the director owned 4,042 shares in the company, valued at approximately $834,915.52. This represents a 16.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory Moore sold 3,000 shares of Texas Roadhouse 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 sale, the director owned 26,900 shares in the company, valued at $5,603,808. This represents a 10.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 19,970 shares of company stock worth $4,061,808. 0.50% of the stock is owned by insiders.

Institutional Trading of Texas Roadhouse

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Texas Roadhouse in the second quarter valued at $1,273,173,000. Wellington Management Group LLP raised its stake in shares of Texas Roadhouse by 8.4% during the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after buying an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Texas Roadhouse by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after buying an additional 34,385 shares in the last quarter. Bessemer Group Inc. raised its position in Texas Roadhouse by 38.1% during the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock worth $120,951,000 after acquiring an additional 202,241 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Texas Roadhouse in the second quarter valued at about $113,993,000. Hedge funds and other 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.