Stephens Upgrades Texas Roadhouse (NASDAQ:TXRH) to Overweight

Texas Roadhouse (NASDAQ:TXRH) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $205.00 price objective on the restaurant operator’s stock. Stephens’ price objective points to a potential upside of 23.02% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Monday, August 24th. Vertical Research upgraded shares of Texas Roadhouse to a “buy” rating in a report on Wednesday. Citigroup upped their price target on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. BTIG Research upped their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Mizuho raised their price objective on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.86.

Texas Roadhouse Trading Up 2.8%

Shares of NASDAQ:TXRH opened at $166.64 on Thursday. 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 stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.61 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 50 day moving average price of $182.30 and a 200 day moving average price of $179.34.

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, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that Texas Roadhouse will post 6.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the sale, the director owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the sale, the director owned 26,900 shares in the company, valued at approximately $5,603,808. This represents a 10.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. bought a new stake in shares of Texas Roadhouse during the 2nd quarter worth approximately $21,560,000. The Manufacturers Life Insurance Company acquired a new stake in Texas Roadhouse in the 2nd quarter worth about $9,473,000. J. Goldman & Co LP acquired a new stake in shares of Texas Roadhouse during the 2nd quarter worth $10,434,000. Bamco Inc. NY acquired a new stake in shares of Texas Roadhouse during the 2nd quarter worth approximately $60,148,000. Finally, Callan Family Office LLC bought a new stake in shares of Texas Roadhouse during the 2nd quarter worth $1,449,000. 94.82% of the stock is owned by institutional investors and hedge funds.

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.