BidaskClub Upgrades Texas Roadhouse (TXRH) to Buy

Texas Roadhouse (NASDAQ:TXRH) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

TXRH has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on Texas Roadhouse from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Zacks Investment Research cut Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Wedbush cut Texas Roadhouse from an “outperform” rating to a “neutral” rating and set a $67.00 price objective for the company. in a research note on Monday, September 10th. They noted that the move was a valuation call. BTIG Research cut Texas Roadhouse from a “buy” rating to a “neutral” rating in a research note on Thursday, September 13th. Finally, Barclays decreased their price objective on Texas Roadhouse from $72.00 to $66.00 and set an “overweight” rating for the company in a research note on Tuesday, July 31st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.96.

Shares of Texas Roadhouse stock opened at $65.73 on Friday. Texas Roadhouse has a 12 month low of $47.70 and a 12 month high of $75.24. The stock has a market cap of $4.95 billion, a P/E ratio of 33.37, a PEG ratio of 2.51 and a beta of 0.62.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, July 30th. The restaurant operator reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $629.24 million for the quarter, compared to analysts’ expectations of $634.52 million. Texas Roadhouse had a net margin of 6.76% and a return on equity of 18.15%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities analysts anticipate that Texas Roadhouse will post 2.33 earnings per share for the current fiscal year.

In other news, insider S. Chris Jacobsen sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $75.00, for a total transaction of $112,500.00. Following the sale, the insider now owns 13,533 shares of the company’s stock, valued at approximately $1,014,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tonya Robinson sold 1,023 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $67.17, for a total value of $68,714.91. Following the sale, the chief financial officer now directly owns 2 shares in the company, valued at approximately $134.34. The disclosure for this sale can be found here. Insiders have sold a total of 14,023 shares of company stock worth $973,715 in the last three months. Corporate insiders own 5.89% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Texas Roadhouse by 44.9% during the 2nd quarter. FMR LLC now owns 2,170,345 shares of the restaurant operator’s stock worth $142,179,000 after acquiring an additional 672,768 shares in the last quarter. Northern Trust Corp raised its position in shares of Texas Roadhouse by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,285,587 shares of the restaurant operator’s stock worth $84,219,000 after acquiring an additional 23,198 shares in the last quarter. Royal Bank of Canada raised its position in shares of Texas Roadhouse by 0.7% during the 1st quarter. Royal Bank of Canada now owns 729,337 shares of the restaurant operator’s stock worth $42,141,000 after acquiring an additional 4,883 shares in the last quarter. Jennison Associates LLC raised its position in shares of Texas Roadhouse by 1.3% during the 2nd quarter. Jennison Associates LLC now owns 658,556 shares of the restaurant operator’s stock worth $43,142,000 after acquiring an additional 8,242 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Texas Roadhouse by 131.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 655,595 shares of the restaurant operator’s stock worth $42,948,000 after acquiring an additional 372,362 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

Featured Story: Understanding Relative Strength Index

Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

Receive News & Ratings for Texas Roadhouse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Roadhouse and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply