Texas Roadhouse (NASDAQ:TXRH) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a sell rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Texas Roadhouse, Inc. is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. It also provides supervisory and administrative services for other license and franchise restaurants. “

Several other research firms have also recently weighed in on TXRH. Credit Suisse Group cut their price objective on shares of Texas Roadhouse from $121.00 to $115.00 and set an outperform rating for the company in a research report on Monday, November 1st. UBS Group raised shares of Texas Roadhouse from a neutral rating to a buy rating and upped their price objective for the stock from $98.00 to $108.00 in a research report on Thursday, January 6th. Morgan Stanley cut their price objective on shares of Texas Roadhouse from $105.00 to $96.00 and set an equal weight rating for the company in a research report on Monday, November 1st. BMO Capital Markets upped their price objective on shares of Texas Roadhouse from $85.00 to $98.00 and gave the stock a market perform rating in a research report on Friday, October 29th. Finally, Stephens cut their price objective on shares of Texas Roadhouse from $100.00 to $95.00 and set an equal weight rating for the company in a research report on Tuesday, October 19th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $107.48.

Shares of Texas Roadhouse stock opened at $87.29 on Wednesday. The firm has a 50-day moving average of $88.17 and a 200-day moving average of $91.14. The stock has a market cap of $6.08 billion, a PE ratio of 28.90, a PEG ratio of 2.45 and a beta of 1.03. Texas Roadhouse has a 52-week low of $73.20 and a 52-week high of $110.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.21.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, October 28th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.06). The business had revenue of $868.94 million during the quarter, compared to the consensus estimate of $870.33 million. Texas Roadhouse had a net margin of 6.61% and a return on equity of 20.68%. The company’s revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Equities research analysts predict that Texas Roadhouse will post 3.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Wednesday, December 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, December 7th. Texas Roadhouse’s dividend payout ratio is currently 52.98%.

In other news, Director Gregory N. Moore sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $94.02, for a total value of $94,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $90.31, for a total value of $270,930.00. The disclosure for this sale can be found here. Insiders sold 11,006 shares of company stock valued at $982,499 in the last ninety days. 4.99% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in TXRH. First Trust Advisors LP increased its position in Texas Roadhouse by 27.7% during the 1st quarter. First Trust Advisors LP now owns 63,746 shares of the restaurant operator’s stock valued at $3,964,000 after purchasing an additional 13,833 shares during the period. O Shaughnessy Asset Management LLC increased its position in Texas Roadhouse by 227.0% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 4,742 shares of the restaurant operator’s stock valued at $456,000 after purchasing an additional 3,292 shares during the period. Centaurus Financial Inc. acquired a new stake in Texas Roadhouse during the 2nd quarter valued at approximately $123,000. State Board of Administration of Florida Retirement System increased its position in Texas Roadhouse by 0.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 27,243 shares of the restaurant operator’s stock valued at $2,621,000 after purchasing an additional 251 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Texas Roadhouse by 63.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,955 shares of the restaurant operator’s stock valued at $2,593,000 after purchasing an additional 10,468 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

About Texas Roadhouse

Texas Roadhouse, Inc is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches.

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