Evercore ISI Downgrades Texas Roadhouse (NASDAQ:TXRH) to In-Line

Texas Roadhouse (NASDAQ:TXRH) was downgraded by Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $190.00 price objective on the restaurant operator’s stock. Evercore ISI’s price target would suggest a potential upside of 12.53% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays increased their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Melius Research raised shares of Texas Roadhouse to a “strong-buy” rating in a report on Monday, July 14th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Bank of America upped their price target on Texas Roadhouse from $203.00 to $219.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Stephens upped their price target on Texas Roadhouse from $184.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $197.35.

Texas Roadhouse Stock Down 0.3%

Shares of NASDAQ TXRH opened at $168.85 on Thursday. Texas Roadhouse has a 12-month low of $148.73 and a 12-month high of $206.04. The firm’s 50-day simple moving average is $180.77 and its 200 day simple moving average is $178.69. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $1.79 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Texas Roadhouse will post 7.23 earnings per share for the current year.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director owned 34,550 shares of the company’s stock, valued at $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the transaction, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock valued at $1,443,704 over the last 90 days. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group lifted its stake in Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 134 shares during the period. Bogart Wealth LLC acquired a new position in Texas Roadhouse in the first quarter valued at about $33,000. Ameritas Advisory Services LLC acquired a new position in Texas Roadhouse in the second quarter valued at about $53,000. WPG Advisers LLC acquired a new position in Texas Roadhouse in the first quarter valued at about $59,000. Finally, Farther Finance Advisors LLC lifted its stake in Texas Roadhouse by 22.8% in the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 94.82% 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. 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.