Texas Roadhouse (NASDAQ:TXRH) Price Target Cut to $220.00 by Analysts at Royal Bank Of Canada

Texas Roadhouse (NASDAQ:TXRH) had its target price reduced by Royal Bank Of Canada from $235.00 to $220.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently issued reports on the company. Citigroup upped their price objective on Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price target on shares of Texas Roadhouse in a research note on Friday, August 7th. Evercore set a $220.00 price objective on shares of Texas Roadhouse in a research report on Friday, September 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.76.

Texas Roadhouse Trading Up 1.8%

Texas Roadhouse stock opened at $158.97 on Monday. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.55 and a beta of 0.80. The firm has a 50-day moving average of $188.64 and a 200-day moving average of $179.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. Texas Roadhouse has a one year low of $153.82 and a one year high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. Texas Roadhouse’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Texas Roadhouse will post 6.61 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Roadhouse’s payout ratio is 48.00%.

Insider Transactions at Texas Roadhouse

In other news, CEO Gerald 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 value of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares of the company’s stock, valued at $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Donna Epps sold 820 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the sale, the director owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. This represents a 16.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 19,970 shares of company stock valued at $4,061,808. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Texas Roadhouse in the 2nd quarter valued at $1,273,173,000. Capital World Investors increased its position in Texas Roadhouse by 13.4% during the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after buying an additional 300,405 shares during the period. Wellington Management Group LLP increased its position in Texas Roadhouse by 8.4% during the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after buying an additional 119,803 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Texas Roadhouse by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after buying an additional 34,385 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Texas Roadhouse by 38.1% during the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock worth $120,951,000 after buying an additional 202,241 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.