Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Gap Up on Analyst Upgrade

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) gapped up prior to trading on Tuesday after BidaskClub upgraded the stock from a strong sell rating to a sell rating. The stock had previously closed at $43.31, but opened at $47.30. Texas Roadhouse shares last traded at $49.30, with a volume of 2,504,487 shares traded.

A number of other research firms also recently commented on TXRH. Zacks Investment Research raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Canaccord Genuity boosted their price objective on Texas Roadhouse from $42.00 to $49.00 and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Longbow Research reaffirmed a “buy” rating and set a $56.00 target price on shares of Texas Roadhouse in a research report on Monday, July 3rd. Jefferies Group LLC reiterated a “sell” rating and set a $40.00 price target on shares of Texas Roadhouse in a report on Friday, June 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $53.00 price target (up previously from $49.00) on shares of Texas Roadhouse in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $50.11.

In other Texas Roadhouse news, Director Kathy Widmer sold 5,200 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $48.97, for a total value of $254,644.00. Following the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $673,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Chris Jacobsen sold 2,500 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $49.25, for a total value of $123,125.00. Following the completion of the transaction, the insider now owns 15,184 shares in the company, valued at $747,812. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TXRH. First Trust Advisors LP increased its stake in shares of Texas Roadhouse by 767.0% in the first quarter. First Trust Advisors LP now owns 64,277 shares of the restaurant operator’s stock valued at $2,862,000 after buying an additional 56,863 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Texas Roadhouse by 1.6% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the restaurant operator’s stock valued at $1,167,000 after buying an additional 400 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Texas Roadhouse by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 38,867 shares of the restaurant operator’s stock valued at $1,731,000 after buying an additional 1,779 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Texas Roadhouse by 4.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,643 shares of the restaurant operator’s stock valued at $1,008,000 after buying an additional 894 shares during the last quarter. Finally, Exencial Wealth Advisors LLC increased its stake in shares of Texas Roadhouse by 1.1% in the first quarter. Exencial Wealth Advisors LLC now owns 46,998 shares of the restaurant operator’s stock valued at $2,098,000 after buying an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

The company has a 50 day moving average of $49.61 and a 200 day moving average of $47.36. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 29.25 and a beta of 0.54.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, July 31st. The restaurant operator reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. The business had revenue of $566.30 million for the quarter, compared to analysts’ expectations of $563.23 million. Texas Roadhouse had a net margin of 5.63% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, analysts expect that Texas Roadhouse, Inc. will post $1.93 earnings per share for the current fiscal year.

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About Texas Roadhouse

Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.

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