Royal Bank Of Canada Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $220.00

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

TXRH has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $235.00 target price on shares of Texas Roadhouse in a report on Monday, August 3rd. Evercore set a $220.00 target price on shares of Texas Roadhouse in a research note on Friday, September 25th. Stephens raised their target price on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. KeyCorp reaffirmed a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, October 2nd. Finally, Mizuho upped their price target on shares of Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.76.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $162.48 on Monday. The company’s 50-day moving average price is $186.89 and its 200-day moving average price is $179.55. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company has a market cap of $10.67 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80. Texas Roadhouse has a twelve month low of $153.82 and a twelve month high of $216.30.

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

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Insider Activity

In other news, Director Donna Epps sold 820 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the transaction, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. This represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the transaction, the insider owned 9,826 shares in the company, valued at approximately $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,970 shares of company stock valued at $4,061,808. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA raised its holdings in shares of Texas Roadhouse by 3.9% in the first quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock worth $300,000 after buying an additional 68 shares during the last quarter. Beacon Investment Advisors LLC raised its stake in Texas Roadhouse by 1.4% in the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock worth $886,000 after acquiring an additional 72 shares during the last quarter. Summitry LLC lifted its position in Texas Roadhouse by 1.9% during the 1st quarter. Summitry LLC now owns 4,140 shares of the restaurant operator’s stock worth $684,000 after acquiring an additional 76 shares during the period. Central Pacific Bank Trust Division grew its stake in Texas Roadhouse by 10.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 860 shares of the restaurant operator’s stock valued at $166,000 after purchasing an additional 80 shares during the last quarter. Finally, Kesler Norman & Wride LLC increased its holdings in shares of Texas Roadhouse by 1.5% in the first quarter. Kesler Norman & Wride LLC now owns 5,471 shares of the restaurant operator’s stock valued at $904,000 after purchasing an additional 82 shares during the period. 94.82% of the stock is currently owned by institutional investors.

About Texas Roadhouse

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.