Texas Roadhouse, Inc. (TXRH) Upgraded by BMO Capital Markets to “Outperform”
Texas Roadhouse, Inc. (NASDAQ:TXRH) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat reports. The firm currently has a $58.00 price target on the restaurant operator’s stock, up from their prior price target of $48.00. BMO Capital Markets’ price objective suggests a potential upside of 16.35% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Thursday, May 4th. Barclays PLC lifted their price target on Texas Roadhouse from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. Canaccord Genuity lifted their price target on Texas Roadhouse from $42.00 to $49.00 and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada lifted their price target on Texas Roadhouse from $49.00 to $53.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 2nd. Finally, Goldman Sachs Group, Inc. (The) lifted their price target on Texas Roadhouse from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Texas Roadhouse has a consensus rating of “Hold” and an average price target of $49.00.
Texas Roadhouse (NASDAQ:TXRH) opened at 49.85 on Thursday. The firm has a 50-day moving average price of $49.52 and a 200-day moving average price of $46.77. The stock has a market cap of $3.54 billion, a P/E ratio of 30.94 and a beta of 0.55. Texas Roadhouse has a 52 week low of $37.23 and a 52 week high of $51.85.
Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Monday, May 1st. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $567.70 million for the quarter, compared to the consensus estimate of $560.74 million. Texas Roadhouse had a return on equity of 16.42% and a net margin of 5.60%. Texas Roadhouse’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, equities research analysts predict that Texas Roadhouse will post $1.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, June 12th. Texas Roadhouse’s dividend payout ratio is presently 52.50%.
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In other news, General Counsel Celia Catlett sold 1,837 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $49.95, for a total value of $91,758.15. Following the completion of the sale, the general counsel now directly owns 10,000 shares in the company, valued at $499,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott Matthew Colosi sold 10,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $49.54, for a total transaction of $495,400.00. Following the completion of the sale, the insider now owns 60,058 shares of the company’s stock, valued at $2,975,273.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,337 shares of company stock valued at $1,482,533. Corporate insiders own 7.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TXRH. Russell Investments Group Ltd. acquired a new stake in Texas Roadhouse during the fourth quarter worth $890,000. Comerica Bank increased its stake in Texas Roadhouse by 10.6% in the fourth quarter. Comerica Bank now owns 39,316 shares of the restaurant operator’s stock worth $1,846,000 after buying an additional 3,763 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Texas Roadhouse by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,828 shares of the restaurant operator’s stock worth $76,791,000 after buying an additional 14,093 shares during the last quarter. Allianz Asset Management AG increased its stake in Texas Roadhouse by 40.0% in the fourth quarter. Allianz Asset Management AG now owns 460,930 shares of the restaurant operator’s stock worth $22,236,000 after buying an additional 131,632 shares during the last quarter. Finally, Flinton Capital Management LLC acquired a new stake in Texas Roadhouse during the fourth quarter worth $185,000. Institutional investors own 88.77% 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, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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