Texas Roadhouse’s (TXRH) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Texas Roadhouse (NASDAQ:TXRH) in a report issued on Tuesday, Briefing.com Automated Import reports. Telsey Advisory Group currently has a $60.00 price objective on the restaurant operator’s stock, up from their prior price objective of $58.00.

TXRH has been the topic of a number of other reports. Deutsche Bank assumed coverage on shares of Texas Roadhouse in a research report on Friday, June 28th. They set a hold rating and a $56.00 price target on the stock. Wedbush decreased their target price on shares of Texas Roadhouse from $62.00 to $56.00 and set a neutral rating on the stock in a report on Tuesday, April 30th. Robert W. Baird raised shares of Texas Roadhouse from a neutral rating to an outperform rating and raised their target price for the company from $61.00 to $65.00 in a report on Monday, May 13th. Raymond James reissued a hold rating on shares of Texas Roadhouse in a report on Friday, June 21st. Finally, BTIG Research raised shares of Texas Roadhouse from a neutral rating to a buy rating and set a $64.00 target price on the stock in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $62.70.

NASDAQ:TXRH opened at $56.90 on Tuesday. Texas Roadhouse has a 52 week low of $50.84 and a 52 week high of $75.24. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.20 and a beta of 0.61. The business’s 50-day simple moving average is $54.03. The company has a current ratio of 0.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, July 29th. The restaurant operator reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Texas Roadhouse had a net margin of 5.99% and a return on equity of 16.30%. The business had revenue of $689.80 million for the quarter, compared to analyst estimates of $688.11 million. During the same period last year, the firm earned $0.62 earnings per share. Texas Roadhouse’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts anticipate that Texas Roadhouse will post 2.29 EPS for the current fiscal year.

In related news, insider S. Chris Jacobsen sold 2,500 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the insider now directly owns 21,197 shares of the company’s stock, valued at approximately $1,271,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory N. Moore sold 23,000 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $55.53, for a total transaction of $1,277,190.00. The disclosure for this sale can be found here. Insiders own 5.89% of the company’s stock.

Several institutional investors have recently made changes to their positions in TXRH. Norges Bank bought a new stake in shares of Texas Roadhouse during the 4th quarter valued at approximately $43,777,000. Marshall Wace LLP grew its holdings in shares of Texas Roadhouse by 377.5% during the 1st quarter. Marshall Wace LLP now owns 617,814 shares of the restaurant operator’s stock valued at $38,421,000 after purchasing an additional 488,417 shares during the last quarter. Ardevora Asset Management LLP grew its holdings in shares of Texas Roadhouse by 38.6% during the 2nd quarter. Ardevora Asset Management LLP now owns 756,520 shares of the restaurant operator’s stock valued at $40,602,000 after purchasing an additional 210,500 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Texas Roadhouse by 10.0% during the 1st quarter. Neuberger Berman Group LLC now owns 2,140,950 shares of the restaurant operator’s stock valued at $133,146,000 after purchasing an additional 195,111 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Texas Roadhouse by 19.0% during the 1st quarter. Nordea Investment Management AB now owns 1,150,335 shares of the restaurant operator’s stock valued at $71,538,000 after purchasing an additional 183,465 shares during the last quarter. 87.80% of the stock is currently owned by institutional investors.

Texas Roadhouse Company Profile

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 April 29, 2019, it owned and operated approximately 590 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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