Texas Roadhouse Inc. (TXRH) Downgraded by Jefferies Group
Texas Roadhouse Inc. (NASDAQ:TXRH) was downgraded by research analysts at Jefferies Group from a “hold” rating to an “underperform” rating in a research note issued to investors on Tuesday. They currently have a $37.00 target price on the stock. Jefferies Group’s target price indicates a potential downside of 2.58% from the company’s current price.
TXRH has been the topic of a number of other reports. Raymond James Financial Inc. lowered shares of Texas Roadhouse from an “outperform” rating to a “market perform” rating in a report on Monday, April 18th. They noted that the move was a valuation call. Morgan Stanley reaffirmed a “sell” rating on shares of Texas Roadhouse in a research report on Monday, May 2nd. Buckingham Research began coverage on shares of Texas Roadhouse in a research report on Thursday, June 16th. They issued a “neutral” rating and a $47.00 target price on the stock. Zacks Investment Research downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $44.00 target price (up from $42.00) on shares of Texas Roadhouse in a research report on Tuesday, May 3rd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. Texas Roadhouse has an average rating of “Hold” and a consensus price target of $43.78.
Texas Roadhouse (NASDAQ:TXRH) traded down 0.50% during trading on Tuesday, hitting $37.98. The stock had a trading volume of 950,019 shares. Texas Roadhouse has a 12 month low of $33.06 and a 12 month high of $49.00. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 23.89 and a beta of 0.54. The firm has a 50 day moving average of $42.62 and a 200-day moving average of $44.16.
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Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Texas Roadhouse had a net margin of 5.88% and a return on equity of 16.78%. The business had revenue of $509 million for the quarter, compared to analyst estimates of $509.80 million. During the same period last year, the business earned $0.30 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Texas Roadhouse will post $1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 48.10%.
In related news, Director James R. Zarley acquired 23,800 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the purchase, the director now directly owns 104,000 shares of the company’s stock, valued at $4,391,920. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the completion of the sale, the chief executive officer now owns 4,363,261 shares of the company’s stock, valued at approximately $200,840,903.83. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in TXRH. Glenmede Trust Co. NA boosted its position in shares of Texas Roadhouse by 653.9% in the first quarter. Glenmede Trust Co. NA now owns 850,446 shares of the company’s stock worth $37,061,000 after buying an additional 737,639 shares during the last quarter. State Street Corp boosted its position in shares of Texas Roadhouse by 52.1% in the second quarter. State Street Corp now owns 2,036,118 shares of the company’s stock worth $92,845,000 after buying an additional 697,515 shares during the last quarter. Melvin Capital Management LP acquired a new position in shares of Texas Roadhouse during the fourth quarter worth about $21,462,000. Eagle Asset Management boosted its position in shares of Texas Roadhouse by 103.0% in the third quarter. Eagle Asset Management now owns 1,136,044 shares of the company’s stock worth $42,260,000 after buying an additional 576,400 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of Texas Roadhouse during the second quarter worth about $21,691,000. Hedge funds and other institutional investors own 88.84% of the company’s stock.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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