Texas Roadhouse Inc. (NASDAQ:TXRH)’s share price fell 11.8% during trading on Tuesday . The company traded as low as $41.60 and last traded at $42.08, with a volume of 4,508,197 shares. The stock had previously closed at $47.70.

A number of brokerages have commented on TXRH. Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial Inc. downgraded shares of Texas Roadhouse from an “outperform” rating to a “market perform” rating in a report on Monday, April 18th. They noted that the move was a valuation call. Morgan Stanley reiterated a “sell” rating on shares of Texas Roadhouse in a report on Monday, May 2nd. Stifel Nicolaus downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $47.00 in a report on Tuesday, July 26th. Finally, Buckingham Research initiated coverage on shares of Texas Roadhouse in a report on Thursday, June 16th. They set a “neutral” rating and a $47.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.24.

The company has a market cap of $2.94 billion and a price-to-earnings ratio of 29.65. The company has a 50 day moving average of $46.16 and a 200-day moving average of $42.77.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The company earned $509 million during the quarter, compared to analysts’ expectations of $509.80 million. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Texas Roadhouse Inc. will post $1.76 earnings per share for the current year.

In other news, Director Kathy Widmer sold 6,000 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $44.20, for a total transaction of $265,200.00. Following the sale, the director now owns 15,250 shares of the company’s stock, valued at approximately $674,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Celia Catlett sold 966 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $46.20, for a total value of $44,629.20. Following the sale, the general counsel now directly owns 10,500 shares in the company, valued at approximately $485,100. The disclosure for this sale can be found here.

Several large investors have modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Texas Roadhouse by 4.0% in the fourth quarter. Jennison Associates LLC now owns 1,972,002 shares of the company’s stock valued at $70,539,000 after buying an additional 75,878 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Texas Roadhouse by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,507,907 shares of the company’s stock valued at $53,938,000 after buying an additional 95,243 shares during the period. Eagle Asset Management raised its stake in shares of Texas Roadhouse by 103.0% in the third quarter. Eagle Asset Management now owns 1,136,044 shares of the company’s stock valued at $42,260,000 after buying an additional 576,400 shares during the period. Fiduciary Management Associates LLC raised its stake in shares of Texas Roadhouse by 6.8% in the fourth quarter. Fiduciary Management Associates LLC now owns 657,825 shares of the company’s stock valued at $23,532,000 after buying an additional 42,080 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Texas Roadhouse during the fourth quarter valued at $16,844,000.

Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.

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