Texas Roadhouse (NASDAQ:TXRH) Rating Increased to Strong-Buy at Robert W. Baird

Robert W. Baird upgraded shares of Texas Roadhouse (NASDAQ:TXRH) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on TXRH. Wells Fargo & Company boosted their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Citigroup lifted their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. BMO Capital Markets increased their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $208.48.

Texas Roadhouse Trading Down 1.0%

NASDAQ TXRH opened at $203.28 on Monday. The business has a fifty day simple moving average of $196.72 and a 200 day simple moving average of $180.44. The firm has a market capitalization of $13.34 billion, a P/E ratio of 32.52, a PEG ratio of 2.03 and a beta of 0.79. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse has a 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. On average, analysts predict that Texas Roadhouse will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $202.17, for a total value of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at $16,369,704.90. This represents a 15.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel directly owned 860 shares in the company, valued at approximately $165,575.80. The trade was a 33.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,246 shares of company stock worth $3,908,907 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ranger Investment Management L.P. bought a new position in shares of Texas Roadhouse during the second quarter valued at about $21,560,000. Stephens Investment Management Group LLC raised its position in Texas Roadhouse by 98.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock valued at $61,457,000 after purchasing an additional 183,422 shares during the last quarter. Callan Family Office LLC purchased a new stake in Texas Roadhouse in the 2nd quarter worth approximately $1,449,000. Jefferies Financial Group Inc. purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $977,000. Finally, Amica Mutual Insurance Co. bought a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $989,000. 94.82% of the stock is currently owned by institutional investors.

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.