Texas Roadhouse, Inc. (TXRH) Upgraded to Buy at Zacks Investment Research
Texas Roadhouse, Inc. (NASDAQ:TXRH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $56.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.40% from the stock’s current price.
According to Zacks, “Texas Roadhouse is a growing, moderately priced, full service restaurant chain. They offer an assortment of specially seasoned and aged steaks hand-cut daily in every restaurant and cooked to order over open gas-fired grills. They also offer their customers, whom they call their guests, a selection of ribs, fish, chicken and vegetable plates, an assortment of hamburgers, salads and sandwiches. “
Other equities analysts have also issued research reports about the company. Canaccord Genuity lifted their price objective on Texas Roadhouse from $42.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Barclays PLC lifted their price objective on Texas Roadhouse from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, May 2nd. Morgan Stanley lifted their price objective on Texas Roadhouse from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 2nd. Goldman Sachs Group, Inc. (The) lifted their price objective on Texas Roadhouse from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $40.00 price objective on shares of Texas Roadhouse in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $49.65.
Shares of Texas Roadhouse (NASDAQ:TXRH) opened at 50.27 on Friday. Texas Roadhouse has a 52-week low of $37.23 and a 52-week high of $51.91. The stock has a market cap of $3.57 billion, a PE ratio of 31.20 and a beta of 0.56. The company’s 50-day moving average price is $50.34 and its 200-day moving average price is $47.00.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, May 1st. The restaurant operator reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $560.74 million. Texas Roadhouse had a return on equity of 16.42% and a net margin of 5.60%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. On average, equities research analysts forecast that Texas Roadhouse will post $1.92 earnings per share for the current fiscal year.
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In other news, Director Kathy Widmer sold 5,200 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $48.97, for a total transaction of $254,644.00. Following the completion of the sale, the director now owns 13,750 shares in the company, valued at $673,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Matthew Colosi sold 10,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $49.54, for a total transaction of $495,400.00. Following the sale, the insider now owns 60,058 shares of the company’s stock, valued at approximately $2,975,273.32. The disclosure for this sale can be found here. Insiders have sold 25,537 shares of company stock worth $1,275,317 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Texas Roadhouse by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,092 shares of the restaurant operator’s stock worth $494,000 after buying an additional 32 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Texas Roadhouse by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 27,680 shares of the restaurant operator’s stock worth $1,232,000 after buying an additional 78 shares during the period. Genesee Valley Trust Co. boosted its position in shares of Texas Roadhouse by 1.6% in the first quarter. Genesee Valley Trust Co. now owns 7,457 shares of the restaurant operator’s stock worth $332,000 after buying an additional 121 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Texas Roadhouse by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,393 shares of the restaurant operator’s stock worth $151,000 after buying an additional 141 shares during the period. Finally, Profund Advisors LLC boosted its position in shares of Texas Roadhouse by 1.5% in the first quarter. Profund Advisors LLC now owns 11,734 shares of the restaurant operator’s stock worth $523,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 88.25% 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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