Texas Roadhouse, Inc. (NASDAQ:TXRH) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) from a buy rating to a hold rating in a research report report published on Tuesday.
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. “
TXRH has been the topic of a number of other reports. Telsey Advisory Group raised their price target on Texas Roadhouse from $46.00 to $54.00 and gave the company a market perform rating in a research note on Tuesday, May 2nd. Longbow Research restated a buy rating and issued a $56.00 price target on shares of Texas Roadhouse in a research note on Monday, July 3rd. Deutsche Bank AG restated a hold rating and issued a $53.00 price target (up from $49.00) on shares of Texas Roadhouse in a research note on Monday, July 10th. Maxim Group restated a buy rating and issued a $52.00 price target on shares of Texas Roadhouse in a research note on Thursday, April 27th. Finally, BidaskClub upgraded Texas Roadhouse from a hold rating to a buy rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $49.95.
Texas Roadhouse (NASDAQ TXRH) opened at 47.70 on Tuesday. Texas Roadhouse has a 12 month low of $37.23 and a 12 month high of $51.91. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 29.61 and a beta of 0.56. The company’s 50-day moving average price is $50.17 and its 200 day moving average price is $47.12.
Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Monday, May 1st. The restaurant operator reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Texas Roadhouse had a return on equity of 16.42% and a net margin of 5.60%. The company had revenue of $567.70 million for the quarter, compared to analysts’ expectations of $560.74 million. During the same period last year, the firm earned $0.50 earnings per share. Texas Roadhouse’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts predict that Texas Roadhouse will post $1.92 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, June 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 52.50%.
In related news, Director Kathy Widmer sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was 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 $673,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Celia Catlett sold 1,837 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $49.95, for a total value of $91,758.15. Following the transaction, the general counsel now directly owns 10,000 shares in the company, valued at approximately $499,500. The disclosure for this sale can be found here. Insiders have sold 25,537 shares of company stock worth $1,275,317 in the last quarter. Insiders own 7.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Texas Roadhouse by 22,841.1% in the first quarter. BlackRock Inc. now owns 6,542,337 shares of the restaurant operator’s stock worth $291,331,000 after buying an additional 6,513,819 shares in the last quarter. Janus Capital Management LLC raised its position in Texas Roadhouse by 114.2% in the first quarter. Janus Capital Management LLC now owns 1,202,544 shares of the restaurant operator’s stock worth $53,549,000 after buying an additional 641,045 shares in the last quarter. Norges Bank bought a new position in Texas Roadhouse during the fourth quarter worth about $20,142,000. Columbia Wanger Asset Management LLC raised its position in Texas Roadhouse by 35.3% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,348,660 shares of the restaurant operator’s stock worth $60,056,000 after buying an additional 351,560 shares in the last quarter. Finally, Scout Investments Inc. raised its position in Texas Roadhouse by 79.3% in the first quarter. Scout Investments Inc. now owns 583,444 shares of the restaurant operator’s stock worth $25,426,000 after buying an additional 258,006 shares in the last quarter. 88.41% 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, 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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