Mizuho Begins Coverage on Texas Roadhouse (TXRH)
Mizuho began coverage on shares of Texas Roadhouse (NASDAQ:TXRH) in a report issued on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $66.00 price target on the restaurant operator’s stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Texas Roadhouse from a hold rating to a buy rating and set a $67.00 price target on the stock in a research report on Wednesday, January 31st. Maxim Group reiterated a buy rating and set a $65.00 price target (up previously from $60.00) on shares of Texas Roadhouse in a research report on Wednesday, January 24th. BMO Capital Markets set a $60.00 price target on Texas Roadhouse and gave the stock a buy rating in a research report on Wednesday, February 21st. Morgan Stanley reiterated an equal weight rating and set a $55.00 price target (down previously from $57.00) on shares of Texas Roadhouse in a research report on Wednesday, February 21st. Finally, Jefferies Group upgraded Texas Roadhouse from an underperform rating to a hold rating and raised their target price for the company from $41.00 to $50.00 in a research report on Saturday, December 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $58.81.
Texas Roadhouse (NASDAQ TXRH) opened at $58.70 on Thursday. The stock has a market capitalization of $4,188.54, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Texas Roadhouse has a 1 year low of $42.83 and a 1 year high of $60.43.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, March 13th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.21. Texas Roadhouse’s dividend payout ratio (DPR) is currently 54.35%.
In related news, insider S. Chris Jacobsen sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $56.50, for a total value of $141,250.00. Following the completion of the sale, the insider now owns 25,184 shares of the company’s stock, valued at $1,422,896. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Scott Matthew Colosi sold 22,403 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $56.43, for a total value of $1,264,201.29. Following the completion of the sale, the chief financial officer now directly owns 96,971 shares of the company’s stock, valued at approximately $5,472,073.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,418 shares of company stock valued at $3,219,565. Insiders own 7.40% of the company’s stock.
Several large investors have recently bought and sold shares of TXRH. BlackRock Inc. increased its holdings in shares of Texas Roadhouse by 3.9% in the fourth quarter. BlackRock Inc. now owns 7,022,082 shares of the restaurant operator’s stock valued at $369,923,000 after purchasing an additional 265,122 shares during the last quarter. Eaton Vance Management increased its holdings in shares of Texas Roadhouse by 50.3% in the fourth quarter. Eaton Vance Management now owns 591,142 shares of the restaurant operator’s stock valued at $31,141,000 after purchasing an additional 197,951 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $8,666,000. Point72 Asset Management L.P. acquired a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $6,268,000. Finally, Tide Point Capital Management LP acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $5,809,000. 87.72% of the stock is owned by hedge funds and other institutional investors.
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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.
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