Texas Roadhouse Inc. (TXRH) Raised to “Buy” at Maxim Group
Texas Roadhouse Inc. (NASDAQ:TXRH) was upgraded by stock analysts at Maxim Group from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $48.00 price objective on the stock. Maxim Group’s target price would suggest a potential upside of 26.15% from the stock’s current price.
Several other research analysts also recently commented on the company. KeyCorp restated a “buy” rating and issued a $50.00 target price on shares of Texas Roadhouse in a research note on Tuesday, August 16th. Canaccord Genuity assumed coverage on Texas Roadhouse in a research note on Monday, August 22nd. They issued a “hold” rating and a $48.00 target price for the company. Zacks Investment Research downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Saturday, July 9th. Credit Suisse Group AG restated a “hold” rating and issued a $42.00 target price on shares of Texas Roadhouse in a research note on Tuesday, August 2nd. Finally, Stifel Nicolaus downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and cut their target price for the stock from $50.00 to $47.00 in a research note on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.78.
Texas Roadhouse (NASDAQ:TXRH) opened at 38.05 on Tuesday. The firm has a market cap of $2.68 billion, a P/E ratio of 23.93 and a beta of 0.54. Texas Roadhouse has a 1-year low of $33.06 and a 1-year high of $49.00. The stock has a 50 day moving average price of $41.42 and a 200 day moving average price of $43.98.
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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, topping the 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 analyst estimates of $509.80 million. During the same quarter last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts anticipate that Texas Roadhouse will post $1.78 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a $0.19 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.00%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.10%.
In related news, Director James R. Zarley purchased 23,800 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $42.23 per share, with a total value of $1,005,074.00. Following 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Wayne Kent Taylor sold 150,000 shares of Texas Roadhouse stock in a transaction that occurred on 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 disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in shares of Texas Roadhouse by 2.5% in the second quarter. Alliancebernstein L.P. now owns 2,365,106 shares of the company’s stock worth $107,849,000 after buying an additional 56,673 shares during the period. 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 period. Jennison Associates LLC boosted its position in shares of Texas Roadhouse by 4.0% in the fourth quarter. Jennison Associates LLC now owns 1,972,002 shares of the company’s stock worth $70,539,000 after buying an additional 75,878 shares during the period. Jennison Associates boosted its position in shares of Texas Roadhouse by 10.0% in the third quarter. Jennison Associates now owns 1,896,124 shares of the company’s stock worth $70,536,000 after buying an additional 171,873 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Texas Roadhouse by 17.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,853,358 shares of the company’s stock worth $84,513,000 after buying an additional 269,634 shares during the period. 88.68% of the stock is currently owned by institutional investors and hedge funds.
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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