Texas Roadhouse Inc. (TXRH) Upgraded by Maxim Group to “Buy”
Maxim Group upgraded shares of Texas Roadhouse Inc. (NASDAQ:TXRH) from a hold rating to a buy rating in a research note published on Tuesday. Maxim Group currently has $48.00 price target on the stock.
A number of other brokerages have also recently weighed in on TXRH. RBC Capital Markets restated a sector perform rating and set a $46.00 price objective (up from $44.00) on shares of Texas Roadhouse in a research note on Tuesday, August 2nd. Zacks Investment Research cut Texas Roadhouse from a hold rating to a sell rating in a research note on Tuesday, July 19th. Jefferies Group cut Texas Roadhouse from a hold rating to an underperform rating and set a $37.00 price objective for the company. in a research note on Tuesday, July 26th. KeyCorp restated a buy rating and set a $50.00 price objective on shares of Texas Roadhouse in a research note on Tuesday, August 16th. Finally, Canaccord Genuity started coverage on Texas Roadhouse in a research note on Monday, August 22nd. They set a hold rating and a $48.00 price objective for the company. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $43.78.
Shares of Texas Roadhouse (NASDAQ:TXRH) opened at 38.29 on Tuesday. The company has a 50-day moving average price of $41.24 and a 200 day moving average price of $43.94. The company has a market capitalization of $2.70 billion, a P/E ratio of 24.08 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 results on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The business had revenue of $509 million for the quarter, compared to the consensus estimate of $509.80 million. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Texas Roadhouse will post $1.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.98%. The ex-dividend date was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 48.10%.
In related news, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was 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 directly owns 4,363,261 shares of the company’s stock, valued at $200,840,903.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Zarley bought 23,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the acquisition, the director now owns 104,000 shares of the company’s stock, valued at $4,391,920. The disclosure for this purchase can be found here. Corporate insiders own 7.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Boston Advisors LLC bought a new stake in Texas Roadhouse during the second quarter valued at approximately $10,006,000. Aperio Group LLC raised its stake in Texas Roadhouse by 17.0% in the first quarter. Aperio Group LLC now owns 27,624 shares of the company’s stock valued at $1,204,000 after buying an additional 4,007 shares during the period. Tower Research Capital LLC TRC bought a new stake in Texas Roadhouse during the second quarter valued at approximately $489,000. BlackRock Inc. raised its stake in Texas Roadhouse by 126.1% in the first quarter. BlackRock Inc. now owns 4,781 shares of the company’s stock valued at $208,000 after buying an additional 2,666 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Texas Roadhouse by 482.9% in the first quarter. JPMorgan Chase & Co. now owns 280,240 shares of the company’s stock valued at $12,212,000 after buying an additional 232,165 shares during the period. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
About Texas Roadhouse
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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