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

Texas Roadhouse (NASDAQ:TXRH) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $205.00 price objective on the restaurant operator’s stock. Stephens’ price objective indicates a potential upside of 20.19% from the stock’s current price.

Several other research analysts have also recently issued reports on TXRH. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $235.00 target price on shares of Texas Roadhouse in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, September 29th. Royal Bank Of Canada dropped their price target on Texas Roadhouse from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 5th. Benchmark upgraded Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, TD Cowen boosted their target price on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of “Moderate Buy” and a consensus price target of $209.27.

Texas Roadhouse Trading Up 2.4%

TXRH stock traded up $3.92 during mid-day trading on Thursday, reaching $170.56. The company’s stock had a trading volume of 1,506,776 shares, compared to its average volume of 1,065,448. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The business’s 50 day moving average price is $182.30 and its 200 day moving average price is $179.34. 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 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced 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 return on equity of 27.20% and a net margin of 6.63%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Texas Roadhouse will post 6.61 EPS for the current year.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Donna 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 completion of the transaction, the director owned 4,042 shares of the company’s stock, valued at $834,915.52. This represents a 16.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hugh Carroll sold 650 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the transaction, the director directly owned 2,883 shares of the company’s stock, valued at $588,103.17. This represents a 18.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,970 shares of company stock worth $4,061,808 over the last three months. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

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

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.