Texas Roadhouse (NASDAQ:TXRH) Upgraded at Benchmark

Benchmark upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks reports.

TXRH has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a research report on Monday, August 3rd. Stephens increased their target price on Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Seaport Research Partners initiated coverage on Texas Roadhouse in a research note on Wednesday, September 16th. They set a “buy” rating and a $195.00 price objective for the company. Finally, Robert W. Baird upgraded Texas Roadhouse to a “strong-buy” rating in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.76.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $162.76 on Tuesday. The company’s fifty day moving average price is $185.98 and its 200 day moving average price is $179.49. Texas Roadhouse has a 1 year low of $153.82 and a 1 year high of $216.30. The company has a market capitalization of $10.68 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that Texas Roadhouse will post 6.61 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory Moore sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the transaction, the director owned 26,900 shares of the company’s stock, valued at $5,603,808. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at $588,103.17. This trade represents a 18.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,970 shares of company stock valued at $4,061,808 over the last quarter. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Basecamp Wealth Advisors LLC grew its stake in shares of Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in Texas Roadhouse during the second quarter worth approximately $32,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Texas Roadhouse in the 2nd quarter valued at about $38,000. Western Wealth Management LLC purchased a new position in shares of Texas Roadhouse during the first quarter worth approximately $47,000. Finally, Bank & Trust Co increased its stake in Texas Roadhouse by 68.1% in the second quarter. Bank & Trust Co now owns 306 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 124 shares during the period. 94.82% of the stock is currently owned by hedge funds and other 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.