Texas Roadhouse (TXRH) Raised to “Buy” at Longbow Research

Longbow Research upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a neutral rating to a buy rating in a research note released on Tuesday, Benzinga reports. Longbow Research currently has $65.00 price objective on the restaurant operator’s stock.

A number of other research firms have also commented on TXRH. ValuEngine lowered Texas Roadhouse from a buy rating to a hold rating in a research note on Friday, March 15th. BidaskClub lowered Texas Roadhouse from a hold rating to a sell rating in a research note on Thursday, April 11th. Wedbush restated a hold rating and set a $62.00 price objective on shares of Texas Roadhouse in a research note on Wednesday, February 20th. Stifel Nicolaus lowered Texas Roadhouse from a buy rating to a hold rating and set a $70.00 price objective on the stock. in a research note on Tuesday, January 22nd. Finally, Goldman Sachs Group upgraded Texas Roadhouse from a neutral rating to a buy rating and raised their price objective for the stock from $64.00 to $72.00 in a research note on Friday, January 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $64.17.

NASDAQ:TXRH traded up $0.27 during mid-day trading on Tuesday, hitting $54.93. 1,731 shares of the stock were exchanged, compared to its average volume of 935,476. The stock has a market cap of $3.92 billion, a P/E ratio of 25.02, a PEG ratio of 2.00 and a beta of 0.59. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Texas Roadhouse has a fifty-two week low of $52.26 and a fifty-two week high of $75.24.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, April 29th. The restaurant operator reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.12). The firm had revenue of $690.61 million for the quarter, compared to analyst estimates of $693.76 million. Texas Roadhouse had a return on equity of 16.17% and a net margin of 6.11%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, sell-side analysts forecast that Texas Roadhouse will post 2.31 EPS for the current year.

In related news, President Scott Matthew Colosi sold 34,247 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $62.39, for a total transaction of $2,136,670.33. Following the sale, the president now owns 121,388 shares of the company’s stock, valued at approximately $7,573,397.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Douglas W. Thompson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the sale, the chief operating officer now directly owns 45,530 shares in the company, valued at approximately $2,689,457.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,247 shares of company stock worth $2,673,820. Corporate insiders own 5.89% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of Texas Roadhouse by 5,870.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,541,514 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 1,515,693 shares in the last quarter. Berman Capital Advisors LLC acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at $27,000. Enlightenment Research LLC acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at $42,000. Advisory Services Network LLC boosted its holdings in shares of Texas Roadhouse by 34.7% during the 4th quarter. Advisory Services Network LLC now owns 851 shares of the restaurant operator’s stock valued at $51,000 after acquiring an additional 219 shares in the last quarter. Finally, Ellis Investment Partners LLC acquired a new stake in shares of Texas Roadhouse during the 1st quarter valued at $55,000. 89.40% of the stock is currently owned by institutional investors.

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 19, 2019, it owned and operated approximately 580 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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