Texas Roadhouse (NASDAQ:TXRH) Stock Rating Upgraded by Robert W. Baird

Texas Roadhouse (NASDAQ:TXRH) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on TXRH. TD Cowen raised their target price on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Mizuho raised their price target on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Barclays decreased their price target on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, BTIG Research raised their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Moderate Buy” and a consensus target price of $208.48.

Texas Roadhouse Stock Performance

TXRH opened at $203.28 on Monday. The firm has a market cap of $13.34 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30. The business’s fifty day moving average is $196.72 and its 200-day moving average is $180.44.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. Sell-side analysts expect that Texas Roadhouse will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. This represents a 10.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,246 shares of company stock valued at $3,908,907. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in Texas Roadhouse by 19,889.7% in the second quarter. California State Teachers Retirement System now owns 15,417,049 shares of the restaurant operator’s stock worth $2,979,036,000 after buying an additional 15,339,924 shares during the last quarter. BlackRock Inc. bought a new position in shares of Texas Roadhouse during the 2nd quarter worth $1,273,173,000. Balyasny Asset Management L.P. bought a new position in shares of Texas Roadhouse during the 3rd quarter worth $157,310,000. Wellington Management Group LLP increased its holdings in Texas Roadhouse by 228.4% in the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock worth $220,623,000 after acquiring an additional 924,306 shares during the last quarter. Finally, Norges Bank purchased a new stake in Texas Roadhouse in the 4th quarter worth about $145,734,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.