Texas Roadhouse Inc. (TXRH) Downgraded to “Market Perform” at Telsey Advisory Group
Texas Roadhouse Inc. (NASDAQ:TXRH) was downgraded by stock analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday. They presently have a $48.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 26.38% from the stock’s current price.
TXRH has been the subject of a number of other reports. Zacks Investment Research downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Raymond James Financial Inc. downgraded Texas Roadhouse from an “outperform” rating to a “market perform” rating in a research report on Monday, April 18th. They noted that the move was a valuation call. Maxim Group reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Texas Roadhouse in a research report on Tuesday, April 5th. Robert W. Baird reiterated a “hold” rating on shares of Texas Roadhouse in a research report on Monday, May 16th. Finally, Jefferies Group downgraded Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 target price for the company. in a research report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.78.
Shares of Texas Roadhouse (NASDAQ:TXRH) traded down 0.50% during mid-day trading on Tuesday, reaching $37.98. The company had a trading volume of 950,019 shares. The firm’s 50-day moving average price is $42.62 and its 200 day moving average price is $44.16. Texas Roadhouse has a 52-week low of $33.06 and a 52-week high of $49.00. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 23.89 and a beta of 0.54.
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Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The firm had revenue of $509 million for the quarter, compared to analyst estimates of $509.80 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts expect that Texas Roadhouse will post $1.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a $0.19 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.76 annualized dividend and a yield of 2.00%. Texas Roadhouse’s dividend payout ratio is presently 48.10%.
In other Texas Roadhouse news, CEO Wayne Kent Taylor sold 150,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $46.03, for a total value of $6,904,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,363,261 shares in the company, valued at $200,840,903.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Zarley bought 23,800 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average price of $42.23 per share, with a total value of $1,005,074.00. Following the completion of the transaction, the director now directly owns 104,000 shares of the company’s stock, valued at approximately $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Van Hulzen Asset Management LLC bought a new stake in shares of Texas Roadhouse during the second quarter valued at $102,000. Advisor Group Inc. bought a new stake in shares of Texas Roadhouse during the second quarter valued at $102,000. Creative Planning boosted its stake in shares of Texas Roadhouse by 31.2% in the second quarter. Creative Planning now owns 2,481 shares of the company’s stock valued at $113,000 after buying an additional 590 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Texas Roadhouse by 24.0% in the first quarter. IFP Advisors Inc now owns 2,908 shares of the company’s stock valued at $127,000 after buying an additional 563 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Texas Roadhouse by 22.4% in the second quarter. Victory Capital Management Inc. now owns 3,347 shares of the company’s stock valued at $153,000 after buying an additional 613 shares during the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.
About Texas Roadhouse
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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