Texas Roadhouse (NASDAQ:TXRH) Upgraded at Melius Research

Melius Research upgraded shares of Texas Roadhouse (NASDAQ:TXRH) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

TXRH has been the topic of several other research reports. Stephens restated an “equal weight” rating and issued a $170.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, June 10th. The Goldman Sachs Group upped their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Texas Roadhouse in a research report on Tuesday. Wells Fargo & Company lowered their price objective on Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wedbush upped their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.14.

Texas Roadhouse Stock Down 0.4%

TXRH opened at $184.01 on Monday. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04. The company has a market cap of $12.21 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87. The firm’s 50-day moving average price is $189.67 and its 200-day moving average price is $178.81.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned $1.69 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.48%. Texas Roadhouse’s payout ratio is currently 41.98%.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the sale, the director directly owned 38,050 shares of the company’s stock, valued at $7,138,941. This trade represents a 2.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 800 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director directly owned 4,632 shares of the company’s stock, valued at $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Hedge funds and other institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Texas Roadhouse during the 4th quarter worth about $2,959,000. Zions Bancorporation N.A. boosted its holdings in Texas Roadhouse by 19.5% during the 4th quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator’s stock valued at $2,373,000 after acquiring an additional 2,144 shares during the period. Bessemer Group Inc. boosted its holdings in Texas Roadhouse by 4.3% during the 4th quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator’s stock valued at $31,768,000 after acquiring an additional 7,301 shares during the period. Golden State Wealth Management LLC boosted its holdings in Texas Roadhouse by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator’s stock valued at $776,000 after acquiring an additional 2,848 shares during the period. Finally, Comerica Bank boosted its holdings in Texas Roadhouse by 16.0% during the 4th quarter. Comerica Bank now owns 132,914 shares of the restaurant operator’s stock valued at $23,982,000 after acquiring an additional 18,339 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.