Texas Roadhouse Inc. (TXRH) Downgraded by Zacks Investment Research
Texas Roadhouse Inc. (NASDAQ:TXRH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Texas Roadhouse is a growing, moderately priced, full service restaurant chain. They offer an assortment of specially seasoned and aged steaks hand-cut daily in every restaurant and cooked to order over open gas-fired grills. They also offer their customers, whom they call their guests, a selection of ribs, fish, chicken and vegetable plates, an assortment of hamburgers, salads and sandwiches. “
Several other equities research analysts have also commented on the stock. Robert W. Baird reiterated a “neutral” rating on shares of Texas Roadhouse in a research note on Thursday, September 8th. Canaccord Genuity began coverage on shares of Texas Roadhouse in a research report on Monday, August 22nd. They set a “hold” rating and a $48.00 target price for the company. KeyCorp reissued a “buy” rating and set a $50.00 target price on shares of Texas Roadhouse in a research report on Tuesday, August 16th. Jefferies Group reissued an “underperform” rating and set a $37.00 target price on shares of Texas Roadhouse in a research report on Monday, August 8th. Finally, BTIG Research reissued a “neutral” rating on shares of Texas Roadhouse in a research report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.78.
Texas Roadhouse (NASDAQ:TXRH) opened at 37.99 on Thursday. The company’s 50-day moving average price is $43.07 and its 200-day moving average price is $44.24. The company has a market cap of $2.68 billion, a PE ratio of 23.89 and a beta of 0.54. Texas Roadhouse has a 12-month low of $33.06 and a 12-month high of $49.00.
Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm earned $509 million during the quarter, compared to analyst estimates of $509.80 million. Texas Roadhouse had a net margin of 5.88% and a return on equity of 16.78%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities analysts anticipate that Texas Roadhouse will post $1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.10%.
In related news, Director James R. Zarley acquired 23,800 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $42.23 per share, for a total transaction of $1,005,074.00. Following the transaction, the director now owns 104,000 shares in the company, valued at approximately $4,391,920. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the sale, the chief executive officer now owns 4,363,261 shares in the company, valued at approximately $200,840,903.83. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of TXRH. Van Hulzen Asset Management LLC bought a new stake in Texas Roadhouse during the second quarter valued at $102,000. Advisor Group Inc. bought a new stake in Texas Roadhouse during the second quarter valued at $102,000. Creative Planning boosted its stake in Texas Roadhouse by 31.2% in the second quarter. Creative Planning now owns 2,481 shares of the company’s stock valued at $113,000 after buying an additional 590 shares during the period. IFP Advisors Inc boosted its stake in Texas Roadhouse by 24.0% in the first quarter. IFP Advisors Inc now owns 2,908 shares of the company’s stock valued at $127,000 after buying an additional 563 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Texas Roadhouse by 22.4% in the second quarter. Victory Capital Management Inc. now owns 3,347 shares of the company’s stock valued at $153,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 88.84% of the company’s stock.
Texas Roadhouse Company Profile
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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