Texas Roadhouse Inc. (TXRH) Raised to “Buy” at Maxim Group
Texas Roadhouse Inc. (NASDAQ:TXRH) was upgraded by analysts at Maxim Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $48.00 target price on the stock. Maxim Group’s price objective would indicate a potential upside of 26.15% from the stock’s previous close.
A number of other analysts have also recently commented on TXRH. KeyCorp restated a “buy” rating and issued a $50.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, August 16th. Jefferies Group cut Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 price objective for the company. in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Stifel Nicolaus cut Texas Roadhouse from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $47.00 in a research report on Tuesday, July 26th. Finally, Telsey Advisory Group cut Texas Roadhouse from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. Texas Roadhouse presently has an average rating of “Hold” and a consensus target price of $43.78.
Shares of Texas Roadhouse (NASDAQ:TXRH) opened at 38.05 on Tuesday. The company has a 50-day moving average price of $41.42 and a 200-day moving average price of $43.98. Texas Roadhouse has a 12 month low of $33.06 and a 12 month high of $49.00. The company has a market capitalization of $2.68 billion, a P/E ratio of 23.93 and a beta of 0.54.
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Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The company earned $509 million during the quarter, compared to the consensus estimate of $509.80 million. During the same period in the previous year, the company posted $0.30 earnings per share. Texas Roadhouse’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Texas Roadhouse will post $1.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, September 12th. Texas Roadhouse’s payout ratio is 48.10%.
In related 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 transaction of $6,904,500.00. Following the transaction, the chief executive officer now owns 4,363,261 shares of the company’s stock, valued at approximately $200,840,903.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James R. Zarley bought 23,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $42.23 per share, for a total transaction of $1,005,074.00. Following the purchase, the director now owns 104,000 shares in the company, valued at approximately $4,391,920. The disclosure for this purchase can be found here. Corporate insiders own 7.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Aperio Group LLC raised its position in Texas Roadhouse by 17.0% in the first quarter. Aperio Group LLC now owns 27,624 shares of the company’s stock valued at $1,204,000 after buying an additional 4,007 shares during the last quarter. Ngam Advisors L.P. raised its position in Texas Roadhouse by 6.2% in the first quarter. Ngam Advisors L.P. now owns 35,411 shares of the company’s stock valued at $1,543,000 after buying an additional 2,069 shares during the last quarter. Teachers Advisors Inc. raised its position in Texas Roadhouse by 2.2% in the first quarter. Teachers Advisors Inc. now owns 102,703 shares of the company’s stock valued at $4,476,000 after buying an additional 2,214 shares during the last quarter. Prudential Financial Inc. raised its position in Texas Roadhouse by 41.6% in the first quarter. Prudential Financial Inc. now owns 276,623 shares of the company’s stock valued at $12,055,000 after buying an additional 81,305 shares during the last quarter. Finally, BlackRock Inc. raised its position in Texas Roadhouse by 126.1% in the first quarter. BlackRock Inc. now owns 4,781 shares of the company’s stock valued at $208,000 after buying an additional 2,666 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
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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