Goldman Sachs Group upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $72.00 target price on the restaurant operator’s stock, up from their prior target price of $64.00.
A number of other research analysts also recently issued reports on TXRH. BidaskClub raised Texas Roadhouse from a buy rating to a strong-buy rating in a research note on Thursday. Zacks Investment Research downgraded Texas Roadhouse from a hold rating to a strong sell rating in a research note on Friday, November 2nd. Wedbush dropped their price objective on Texas Roadhouse from $67.00 to $62.00 and set a neutral rating on the stock in a research note on Tuesday, October 30th. Maxim Group dropped their price objective on Texas Roadhouse to $66.00 and set a positive rating on the stock in a research note on Tuesday, October 30th. Finally, Barclays dropped their price objective on Texas Roadhouse from $66.00 to $64.00 and set an overweight rating on the stock in a research note on Tuesday, October 30th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $65.35.
Shares of NASDAQ:TXRH opened at $66.98 on Friday. The stock has a market capitalization of $4.51 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.85. Texas Roadhouse has a 1 year low of $53.05 and a 1 year high of $75.24.
Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.14). The business had revenue of $594.60 million during the quarter, compared to analyst estimates of $594.16 million. Texas Roadhouse had a net margin of 6.53% and a return on equity of 17.39%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Sell-side analysts predict that Texas Roadhouse will post 2.19 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Monday, December 31st. Investors of record on Wednesday, December 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 18th. Texas Roadhouse’s payout ratio is 50.76%.
In other Texas Roadhouse news, President Scott Matthew Colosi sold 6,741 shares of the business’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $63.22, for a total transaction of $426,166.02. Following the completion of the sale, the president now directly owns 68,202 shares of the company’s stock, valued at approximately $4,311,730.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Parker sold 4,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $62.21, for a total value of $264,392.50. Following the sale, the director now directly owns 87,810 shares of the company’s stock, valued at $5,462,660.10. The disclosure for this sale can be found here. Insiders own 5.89% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in Texas Roadhouse in the second quarter valued at approximately $123,000. Paradigm Asset Management Co. LLC lifted its stake in Texas Roadhouse by 10.0% in the third quarter. Paradigm Asset Management Co. LLC now owns 2,750 shares of the restaurant operator’s stock valued at $191,000 after purchasing an additional 250 shares during the last quarter. Independent Advisor Alliance purchased a new position in Texas Roadhouse in the third quarter valued at approximately $201,000. Blair William & Co. IL purchased a new position in Texas Roadhouse in the third quarter valued at approximately $204,000. Finally, YHB Investment Advisors Inc. purchased a new position in Texas Roadhouse in the fourth quarter valued at approximately $204,000. 90.24% of the stock is owned by institutional investors.
About Texas Roadhouse
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 October 29, 2018, it owned and operated approximately 575 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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