Texas Roadhouse (NASDAQ:TXRH) Upgraded by Seaport Research Partners to Strong-Buy Rating

Seaport Research Partners upgraded shares of Texas Roadhouse (NASDAQ:TXRH) to a strong-buy rating in a report published on Tuesday morning,Zacks reports.

A number of other research firms have also recently weighed in on TXRH. Robert W. Baird raised Texas Roadhouse to a “strong-buy” rating in a research report on Monday, August 24th. UBS Group upped their target price on Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Royal Bank Of Canada increased their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. TD Cowen raised their price target on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Citigroup upped their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.40.

Texas Roadhouse Stock Up 0.2%

Shares of Texas Roadhouse stock opened at $170.07 on Tuesday. 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 $11.16 billion, a P/E ratio of 27.21, a PEG ratio of 1.67 and a beta of 0.78. The firm’s 50 day moving average price is $196.91 and its 200-day moving average price is $180.86. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last posted its 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. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. Texas Roadhouse’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 earnings per share. On average, sell-side analysts predict that Texas Roadhouse will post 6.64 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s payout ratio is 48.00%.

Insider Activity

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 transaction of $3,032,550.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna Epps sold 820 shares of Texas Roadhouse stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total transaction of $169,379.20. Following the completion of the sale, the director directly owned 4,042 shares in the company, valued at $834,915.52. This represents a 16.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,396 shares of company stock valued at $4,143,825 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors have recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in shares of Texas Roadhouse in the fourth quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC raised its stake in Texas Roadhouse by 5,033.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Silvant Capital Management LLC purchased a new position in Texas Roadhouse in the 2nd quarter valued at $32,000. Coppell Advisory Solutions LLC purchased a new position in Texas Roadhouse in the 2nd quarter valued at $38,000. Finally, TD Private Client Wealth LLC boosted its stake in Texas Roadhouse by 137.5% during the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 154 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company’s concepts include Texas Roadhouse steakhouses, Bubba’s 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.