JPMorgan Chase & Co. Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $200.00

Texas Roadhouse (NASDAQ:TXRH) had its price target decreased by JPMorgan Chase & Co. from $202.00 to $200.00 in a research report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on TXRH. Weiss Ratings upgraded Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Seaport Research Partners assumed coverage on Texas Roadhouse in a research report on Wednesday, September 16th. They issued a “buy” rating and a $195.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price target on shares of Texas Roadhouse in a research note on Friday, August 7th. Evercore set a $220.00 price objective on Texas Roadhouse in a report on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $235.00 price objective on shares of Texas Roadhouse in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.48.

Texas Roadhouse Trading Up 0.2%

Shares of NASDAQ:TXRH opened at $156.70 on Tuesday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.55 and a beta of 0.80. Texas Roadhouse has a 1-year low of $153.82 and a 1-year high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a 50 day moving average price of $190.23 and a 200 day moving average price of $179.84.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Texas Roadhouse will post 6.62 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio is currently 48.00%.

Insider Activity

In other Texas Roadhouse news, insider Lloyd Marshall sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the sale, the insider directly owned 9,826 shares in the company, valued at approximately $2,010,890.90. This trade represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the transaction, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 19,970 shares of company stock worth $4,061,808. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXRH. BlackRock Inc. bought a new stake in shares of Texas Roadhouse during the 2nd quarter worth about $1,273,173,000. Capital World Investors raised its stake in shares of Texas Roadhouse by 13.4% in the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock valued at $421,190,000 after acquiring an additional 300,405 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 8.4% in the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after purchasing an additional 119,803 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Texas Roadhouse by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after purchasing an additional 24,834 shares during the last quarter. Finally, Norges Bank bought a new stake in Texas Roadhouse during the fourth quarter worth approximately $145,734,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.