Texas Roadhouse Inc (NASDAQ:TXRH) Short Interest Update

Texas Roadhouse Inc (NASDAQ:TXRH) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 6,590,000 shares, a growth of 7.5% from the June 30th total of 6,130,000 shares. Approximately 10.2% of the company’s stock are sold short. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 4.4 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXRH. Geode Capital Management LLC boosted its position in shares of Texas Roadhouse by 5.4% during the first quarter. Geode Capital Management LLC now owns 1,015,538 shares of the restaurant operator’s stock valued at $41,941,000 after buying an additional 51,966 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Texas Roadhouse by 3.2% during the first quarter. The Manufacturers Life Insurance Company now owns 133,493 shares of the restaurant operator’s stock valued at $5,513,000 after buying an additional 4,095 shares during the last quarter. Swiss National Bank boosted its position in shares of Texas Roadhouse by 1.0% during the first quarter. Swiss National Bank now owns 127,900 shares of the restaurant operator’s stock valued at $5,282,000 after buying an additional 1,300 shares during the last quarter. Calamos Advisors LLC purchased a new position in shares of Texas Roadhouse during the first quarter valued at approximately $1,351,000. Finally, Texas Permanent School Fund boosted its position in shares of Texas Roadhouse by 24.4% during the first quarter. Texas Permanent School Fund now owns 55,517 shares of the restaurant operator’s stock valued at $2,293,000 after buying an additional 10,889 shares during the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.

NASDAQ TXRH opened at $56.19 on Friday. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 39.88 and a beta of 0.94. Texas Roadhouse has a 52 week low of $25.15 and a 52 week high of $72.49. The business has a 50 day moving average price of $51.55 and a 200-day moving average price of $51.88. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Monday, May 4th. The restaurant operator reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.25). The firm had revenue of $652.50 million for the quarter, compared to the consensus estimate of $663.22 million. Texas Roadhouse had a net margin of 5.15% and a return on equity of 15.33%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities research analysts anticipate that Texas Roadhouse will post 0.14 earnings per share for the current year.

TXRH has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Texas Roadhouse from an “underweight” rating to a “neutral” rating and set a $55.00 price objective for the company in a research report on Wednesday, June 24th. Morgan Stanley boosted their price objective on Texas Roadhouse from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Stephens upped their price target on Texas Roadhouse from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Telsey Advisory Group upped their price target on Texas Roadhouse from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 5th. Finally, Credit Suisse Group began coverage on Texas Roadhouse in a research report on Thursday, July 9th. They set an “outperform” rating and a $63.00 price target for the company. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.92.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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