TD Cowen Initiates Coverage on Texas Roadhouse (NASDAQ:TXRH)

Equities researchers at TD Cowen initiated coverage on shares of Texas Roadhouse (NASDAQ:TXRH) in a report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $215.00 price target on the restaurant operator’s stock. TD Cowen’s price target would indicate a potential upside of 12.35% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Zacks Research raised Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Royal Bank Of Canada cut their price objective on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. UBS Group reissued a “buy” rating on shares of Texas Roadhouse in a report on Monday, November 10th. The Goldman Sachs Group decreased their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Finally, Wall Street Zen cut shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of “Moderate Buy” and an average target price of $195.14.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $191.36 on Tuesday. The firm has a market capitalization of $12.66 billion, a P/E ratio of 29.26, a P/E/G ratio of 3.05 and a beta of 0.89. The stock has a 50 day moving average price of $174.26 and a 200-day moving average price of $173.62. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.Texas Roadhouse’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $187.13, for a total transaction of $935,650.00. Following the completion of the sale, the chief executive officer owned 96,774 shares in the company, valued at approximately $18,109,318.62. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory N. Moore sold 1,400 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total transaction of $238,000.00. Following the sale, the director directly owned 32,150 shares of the company’s stock, valued at approximately $5,465,500. This trade represents a 4.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,400 shares of company stock valued at $1,340,920 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Oak Thistle LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at approximately $1,553,000. Yousif Capital Management LLC increased its position in Texas Roadhouse by 0.9% during the fourth quarter. Yousif Capital Management LLC now owns 14,691 shares of the restaurant operator’s stock valued at $2,439,000 after acquiring an additional 130 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in Texas Roadhouse during the 4th quarter valued at about $241,000. Flagship Harbor Advisors LLC bought a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $186,000. Finally, Braun Stacey Associates Inc. increased its stake in Texas Roadhouse by 3.2% in the fourth quarter. Braun Stacey Associates Inc. now owns 129,839 shares of the restaurant operator’s stock worth $21,553,000 after purchasing an additional 4,075 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.