Texas Roadhouse, Inc. (TXRH) Given “Market Perform” Rating at Raymond James Financial, Inc.
Texas Roadhouse, Inc. (NASDAQ:TXRH)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial, Inc. in a research note issued on Tuesday.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Deutsche Bank AG reiterated a “hold” rating and issued a $53.00 price objective (up previously from $49.00) on shares of Texas Roadhouse in a report on Monday, July 10th. Longbow Research reiterated a “buy” rating and issued a $56.00 price objective on shares of Texas Roadhouse in a report on Monday, July 3rd. Finally, BMO Capital Markets upgraded Texas Roadhouse from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $58.00 in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.65.
Texas Roadhouse (NASDAQ:TXRH) traded up 0.42% during trading on Tuesday, hitting $50.50. The stock had a trading volume of 425,122 shares. The company has a 50-day moving average of $50.34 and a 200-day moving average of $47.00. The stock has a market capitalization of $3.58 billion, a P/E ratio of 31.35 and a beta of 0.56. Texas Roadhouse has a 52 week low of $37.23 and a 52 week high of $51.91.
Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, May 1st. The restaurant operator reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Texas Roadhouse had a return on equity of 16.42% and a net margin of 5.60%. The business had revenue of $567.70 million for the quarter, compared to the consensus estimate of $560.74 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts expect that Texas Roadhouse will post $1.92 earnings per share for the current fiscal year.
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In other Texas Roadhouse news, Director Kathy Widmer sold 5,200 shares of the business’s stock in a transaction on 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 directly owns 13,750 shares in the company, valued at approximately $673,337.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider S. Chris Jacobsen sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $51.29, for a total transaction of $179,515.00. Following the sale, the insider now owns 17,684 shares of the company’s stock, valued at $907,012.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,537 shares of company stock valued at $1,275,317. 6.60% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in TXRH. BlackRock Inc. raised its stake in shares of Texas Roadhouse by 22,841.1% in the first quarter. BlackRock Inc. now owns 6,542,337 shares of the restaurant operator’s stock worth $291,331,000 after buying an additional 6,513,819 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Texas Roadhouse by 114.2% in the first quarter. Janus Capital Management LLC now owns 1,202,544 shares of the restaurant operator’s stock worth $53,549,000 after buying an additional 641,045 shares in the last quarter. Norges Bank bought a new stake in shares of Texas Roadhouse during the fourth quarter worth $20,142,000. Columbia Wanger Asset Management LLC raised its stake in shares of Texas Roadhouse by 35.3% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,348,660 shares of the restaurant operator’s stock worth $60,056,000 after buying an additional 351,560 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in shares of Texas Roadhouse by 79.3% in the first quarter. Scout Investments Inc. now owns 583,444 shares of the restaurant operator’s stock worth $25,426,000 after buying an additional 258,006 shares in the last quarter. Institutional investors and hedge funds own 88.41% 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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