Texas Roadhouse (NASDAQ:TXRH) Stock Bumped Down to Strong Sell by Zacks Research

Texas Roadhouse (NASDAQ:TXRH) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Barclays cut shares of Texas Roadhouse from an “equal weight” rating to a “cautious” rating in a research report on Wednesday, October 14th. Piper Sandler raised their price objective on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Stephens raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 target price on the stock in a research report on Thursday, October 15th. Vertical Research upgraded Texas Roadhouse to a “buy” rating in a report on Wednesday, October 14th. Finally, Mizuho upped their target price on Texas Roadhouse from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.04.

Texas Roadhouse Stock Down 0.0%

Shares of TXRH traded down $0.01 during mid-day trading on Thursday, hitting $185.98. 715,207 shares of the company’s stock were exchanged, compared to its average volume of 1,247,134. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.38 and a quick ratio of 0.39. Texas Roadhouse has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a market cap of $12.21 billion, a PE ratio of 29.24, a P/E/G ratio of 2.14 and a beta of 0.81. The company has a 50-day simple moving average of $172.19 and a 200 day simple moving average of $179.03.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, November 5th. The restaurant operator reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.01% and a net margin of 6.59%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Texas Roadhouse will post 6.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 1,316 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $190.19, for a total transaction of $250,290.04. Following the completion of the sale, the director owned 4,045 shares of the company’s stock, valued at $769,318.55. This trade represents a 24.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the sale, the chief executive officer owned 80,970 shares of the company’s stock, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,286 shares of company stock valued at $3,687,138 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth approximately $1,273,173,000. Wellington Management Group LLP increased its holdings in Texas Roadhouse by 8.4% in the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after purchasing an additional 119,803 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Texas Roadhouse by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock valued at $142,670,000 after purchasing an additional 34,385 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Texas Roadhouse during the second quarter valued at about $113,993,000. Finally, Park Presidio Capital LLC acquired a new stake in shares of Texas Roadhouse during the second quarter valued at about $102,977,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc. operates and franchises casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for a lively atmosphere and made-from-scratch food. The Texas Roadhouse menu features hand-cut steaks, ribs, chicken, seafood and made-from-scratch sides, along with freshly baked bread. Bubba’s 33 offers a sports-bar setting with items such as burgers, pizza and wings, while Jaggers focuses on burgers, chicken sandwiches and salads. Founded in 1993 in Clarksville, Indiana, Texas Roadhouse is headquartered in Louisville, Kentucky.