Texas Roadhouse (NASDAQ:TXRH) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $179.17 and traded as high as $183.69. Texas Roadhouse shares last traded at $182.96, with a volume of 1,785,171 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TXRH. JPMorgan Chase & Co. lowered their price objective on shares of Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, September 29th. Benchmark upgraded Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Piper Sandler lifted their target price on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays lowered Texas Roadhouse from an “equal weight” rating to a “cautious” rating in a report on Wednesday, October 14th. Finally, Robert W. Baird upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.32.

Texas Roadhouse Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The stock has a fifty day moving average price of $174.19 and a two-hundred day moving average price of $179.15. The company has a market cap of $11.98 billion, a P/E ratio of 29.20, a PEG ratio of 1.98 and a beta of 0.80.

Texas Roadhouse (NASDAQ:TXRH) last issued 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business earned $1.86 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 6.48 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s payout ratio is currently 48.00%.

Insider Activity

In related news, insider Lloyd Marshall sold 500 shares of Texas Roadhouse stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the transaction, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. The trade was a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the transaction, the director directly owned 26,900 shares in the company, valued at $5,603,808. This represents a 10.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 in the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXRH. BlackRock Inc. acquired a new stake in shares of Texas Roadhouse in the second quarter valued at approximately $1,273,173,000. Bank of America Corp DE acquired a new position in Texas Roadhouse during the 2nd quarter worth $113,993,000. Park Presidio Capital LLC acquired a new position in Texas Roadhouse during the 2nd quarter worth $102,977,000. Bank of New York Mellon Corp bought a new position in Texas Roadhouse in the 2nd quarter valued at $95,158,000. Finally, Bamco Inc. NY bought a new position in Texas Roadhouse in the 2nd quarter valued at $60,148,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.