Texas Roadhouse (NASDAQ:TXRH – Get Free Report) was upgraded by equities researchers at Robert W. Baird to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.
Several other research analysts have also issued reports on the stock. TD Cowen raised their price target on shares of Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BMO Capital Markets increased their price objective on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, May 21st. Wells Fargo & Company lifted their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Stephens boosted their target price on shares of Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 price target on shares of Texas Roadhouse in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.48.
View Our Latest Stock Analysis on Texas Roadhouse
Texas Roadhouse Trading Down 1.0%
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Texas Roadhouse will post 6.63 earnings per share for the current year.
Insider Activity at Texas Roadhouse
In related news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares of the company’s stock, valued at $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the sale, the general counsel owned 860 shares of the company’s stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 19,246 shares of company stock worth $3,908,907. Corporate insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On Texas Roadhouse
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. &PARTNERS lifted its holdings in Texas Roadhouse by 3.5% during the fourth quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock valued at $302,000 after purchasing an additional 61 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Texas Roadhouse by 11.6% in the fourth quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator’s stock worth $107,000 after purchasing an additional 67 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of Texas Roadhouse by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock valued at $300,000 after purchasing an additional 68 shares during the period. Beacon Investment Advisors LLC raised its position in shares of Texas Roadhouse by 1.4% during the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $886,000 after purchasing an additional 72 shares during the period. Finally, Compound Planning Inc. lifted its stake in shares of Texas Roadhouse by 5.6% during the 4th quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator’s stock valued at $234,000 after buying an additional 75 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.
The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.
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