Texas Roadhouse, Inc. (NASDAQ:TXRH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $56.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.80% from the company’s previous close.

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. “

A number of other equities analysts also recently weighed in on TXRH. BidaskClub raised shares of Texas Roadhouse from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $47.00 target price (up from $44.00) on shares of Texas Roadhouse in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price (up from $41.00) on shares of Texas Roadhouse in a research note on Tuesday, May 2nd. Longbow Research reaffirmed a “buy” rating and issued a $56.00 target price on shares of Texas Roadhouse in a research note on Monday, July 3rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $53.00 target price (up from $49.00) on shares of Texas Roadhouse in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $49.65.

Texas Roadhouse (TXRH) opened at 50.54 on Friday. The company has a market capitalization of $3.58 billion, a PE ratio of 31.37 and a beta of 0.56. The stock has a 50 day moving average of $50.34 and a 200 day moving average of $47.00. Texas Roadhouse has a 12-month low of $37.23 and a 12-month high of $51.91.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, May 1st. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. Texas Roadhouse had a net margin of 5.60% and a return on equity of 16.42%. The company had revenue of $567.70 million during the quarter, compared to the consensus estimate of $560.74 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Texas Roadhouse will post $1.92 EPS for the current year.

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In related news, insider Scott Matthew Colosi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $49.54, for a total transaction of $495,400.00. Following the completion of the transaction, the insider now owns 60,058 shares in the company, valued at $2,975,273.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathy Widmer sold 5,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $48.97, for a total transaction of $254,644.00. Following the transaction, the director now owns 13,750 shares of the company’s stock, valued at approximately $673,337.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,537 shares of company stock valued at $1,275,317. Corporate insiders own 7.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TXRH. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Texas Roadhouse by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,092 shares of the restaurant operator’s stock worth $494,000 after buying an additional 32 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Texas Roadhouse by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 27,680 shares of the restaurant operator’s stock worth $1,232,000 after buying an additional 78 shares in the last quarter. Genesee Valley Trust Co. boosted its position in shares of Texas Roadhouse by 1.6% in the first quarter. Genesee Valley Trust Co. now owns 7,457 shares of the restaurant operator’s stock worth $332,000 after buying an additional 121 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Texas Roadhouse by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,393 shares of the restaurant operator’s stock worth $151,000 after buying an additional 141 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in shares of Texas Roadhouse by 1.5% in the first quarter. Profund Advisors LLC now owns 11,734 shares of the restaurant operator’s stock worth $523,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 88.25% 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, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.

Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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