Texas Roadhouse Inc. (TXRH) Sees Large Volume Increase
Shares of Texas Roadhouse Inc. (NASDAQ:TXRH) saw an uptick in trading volume on Wednesday . 1,814,160 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 1,311,662 shares.The stock last traded at $42.50 and had previously closed at $41.80.
Several brokerages recently weighed in on TXRH. Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James Financial Inc. cut shares of Texas Roadhouse from an “outperform” rating to a “market perform” rating in a research report on Monday, April 18th. They noted that the move was a valuation call. BTIG Research restated a “neutral” rating on shares of Texas Roadhouse in a research report on Tuesday. Morgan Stanley restated a “sell” rating on shares of Texas Roadhouse in a research report on Monday, May 2nd. Finally, Stifel Nicolaus cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and reduced their price target for the stock from $50.00 to $47.00 in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.24.
The firm has a 50 day moving average price of $45.97 and a 200-day moving average price of $42.81. The firm has a market capitalization of $3.00 billion and a P/E ratio of 30.24.
Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm 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 company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Texas Roadhouse Inc. will post $1.78 EPS for the current year.
In other news, General Counsel Celia Catlett sold 966 shares of Texas Roadhouse stock in a transaction on Friday, June 10th. The stock was sold at an average price of $46.20, for a total transaction of $44,629.20. Following the transaction, the general counsel now owns 10,500 shares in the company, valued at approximately $485,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathy Widmer sold 6,000 shares of Texas Roadhouse stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $44.20, for a total value of $265,200.00. Following the transaction, the director now owns 15,250 shares in the company, valued at approximately $674,050. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Jennison Associates LLC raised its position in 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 in the last quarter. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Eagle Asset Management raised its position in 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 in the last quarter. Fiduciary Management Associates LLC raised its position in 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 in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Texas Roadhouse during the fourth quarter valued at approximately $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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