Texas Roadhouse (NASDAQ:TXRH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday.
According to Zacks, “Texas Roadhouse, Inc. is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. It also provides supervisory and administrative services for other license and franchise restaurants. “
Several other research firms have also commented on TXRH. BidaskClub lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Telsey Advisory Group lifted their price target on shares of Texas Roadhouse from $64.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, July 11th. Robert W. Baird lifted their price target on shares of Texas Roadhouse from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, July 25th. Maxim Group reaffirmed a “hold” rating and set a $67.00 price target on shares of Texas Roadhouse in a research report on Tuesday, July 31st. Finally, Royal Bank of Canada reduced their price target on shares of Texas Roadhouse to $74.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Texas Roadhouse currently has an average rating of “Hold” and a consensus price target of $65.00.
Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.14). The firm had revenue of $594.60 million for the quarter, compared to analysts’ expectations of $594.16 million. Texas Roadhouse had a net margin of 6.53% and a return on equity of 17.39%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. Research analysts predict that Texas Roadhouse will post 2.19 earnings per share for the current year.
In other Texas Roadhouse news, CFO Tonya Robinson sold 1,023 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $67.17, for a total value of $68,714.91. Following the completion of the transaction, the chief financial officer now owns 2 shares in the company, valued at $134.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Parker sold 4,250 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $62.21, for a total transaction of $264,392.50. Following the completion of the transaction, the director now owns 87,810 shares of the company’s stock, valued at approximately $5,462,660.10. The disclosure for this sale can be found here. In the last three months, insiders sold 18,273 shares of company stock worth $1,238,107. 5.89% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of TXRH. Bruderman Asset Management LLC acquired a new position in shares of Texas Roadhouse during the second quarter worth $123,000. Cornerstone Wealth Management LLC acquired a new position in shares of Texas Roadhouse during the second quarter worth $200,000. Zeke Capital Advisors LLC acquired a new position in shares of Texas Roadhouse during the second quarter worth $209,000. World Asset Management Inc acquired a new position in shares of Texas Roadhouse during the second quarter worth $211,000. Finally, Alps Advisors Inc. acquired a new position in shares of Texas Roadhouse during the third quarter worth $225,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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