The Texas Roadhouse Inc. (TXRH) Downgraded by Zacks Investment Research to “Sell”

The Texas Roadhouse Inc. (TXRH) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Texas Roadhouse Inc. (NASDAQ:TXRH) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Texas Roadhouse is a growing, moderately priced, full service restaurant chain. They offer an assortment of specially seasoned and aged steaks hand-cut daily in every restaurant and cooked to order over open gas-fired grills. They also offer their customers, whom they call their guests, a selection of ribs, fish, chicken and vegetable plates, an assortment of hamburgers, salads and sandwiches. “

A number of other brokerages have also commented on TXRH. RBC Capital Markets restated a sector perform rating and issued a $46.00 price target (up from $44.00) on shares of Texas Roadhouse in a report on Tuesday, August 2nd. Jefferies Group downgraded Texas Roadhouse from a hold rating to an underperform rating and set a $37.00 target price on the stock. in a research report on Tuesday, July 26th. KeyCorp reaffirmed a buy rating and issued a $50.00 target price on shares of Texas Roadhouse in a research report on Tuesday, August 16th. Canaccord Genuity began coverage on Texas Roadhouse in a research report on Monday, August 22nd. They issued a hold rating and a $48.00 target price on the stock. Finally, Telsey Advisory Group downgraded Texas Roadhouse from an outperform rating to a market perform rating and set a $48.00 target price on the stock. in a research report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. Texas Roadhouse currently has an average rating of Hold and an average target price of $43.78.

Shares of Texas Roadhouse (NASDAQ:TXRH) opened at 37.97 on Thursday. The company has a market cap of $2.67 billion, a P/E ratio of 23.88 and a beta of 0.54. Texas Roadhouse has a 12 month low of $33.06 and a 12 month high of $49.00. The firm has a 50 day moving average price of $42.19 and a 200-day moving average price of $44.13.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $509 million for the quarter, compared to analyst estimates of $509.80 million. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. Analysts anticipate that Texas Roadhouse will post $1.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.10%.

In other Texas Roadhouse news, CEO Wayne Kent Taylor sold 150,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,363,261 shares in the company, valued at $200,840,903.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Zarley bought 23,800 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $42.23 per share, with a total value of $1,005,074.00. Following the completion of the purchase, the director now directly owns 104,000 shares of the company’s stock, valued at $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in TXRH. LPL Financial LLC boosted its stake in Texas Roadhouse by 0.7% in the first quarter. LPL Financial LLC now owns 23,155 shares of the company’s stock valued at $1,002,000 after buying an additional 159 shares during the last quarter. Seven Bridges Advisors LLC boosted its stake in Texas Roadhouse by 3.0% in the second quarter. Seven Bridges Advisors LLC now owns 6,239 shares of the company’s stock valued at $284,000 after buying an additional 184 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Texas Roadhouse by 0.9% in the second quarter. GSA Capital Partners LLP now owns 23,556 shares of the company’s stock valued at $1,074,000 after buying an additional 200 shares during the last quarter. IFP Advisors Inc boosted its stake in Texas Roadhouse by 9.3% in the second quarter. IFP Advisors Inc now owns 3,179 shares of the company’s stock valued at $145,000 after buying an additional 271 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Texas Roadhouse by 1.7% in the second quarter. Guggenheim Capital LLC now owns 29,534 shares of the company’s stock valued at $1,347,000 after buying an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.

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