Seaport Research Partners Upgrades Texas Roadhouse (NASDAQ:TXRH) to Strong-Buy

Texas Roadhouse (NASDAQ:TXRH) was upgraded by investment analysts at Seaport Research Partners to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

TXRH has been the subject of a number of other research reports. BTIG Research upped their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 7th. Piper Sandler lifted their price target on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $235.00 price objective on shares of Texas Roadhouse in a research report on Monday, August 3rd. Weiss Ratings raised shares of Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, Stephens lifted their target price on shares of Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.40.

Texas Roadhouse Trading Up 0.2%

TXRH opened at $170.07 on Tuesday. The business has a 50 day simple moving average of $196.91 and a two-hundred day simple moving average of $180.86. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. Texas Roadhouse has a one year low of $153.82 and a one year high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.02. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Analysts predict that Texas Roadhouse will post 6.64 EPS for the current year.

Insider Activity at Texas Roadhouse

In related news, Director Hugh Carroll sold 650 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the sale, the director directly owned 2,883 shares of the company’s stock, valued at $588,103.17. This represents a 18.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lloyd Marshall sold 500 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the transaction, the insider owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,396 shares of company stock valued at $4,143,825 over the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Ranger Investment Management L.P. purchased a new stake in shares of Texas Roadhouse during the second quarter valued at approximately $21,560,000. The Manufacturers Life Insurance Company purchased a new position in Texas Roadhouse in the 2nd quarter worth approximately $9,473,000. Callan Family Office LLC bought a new position in Texas Roadhouse in the 2nd quarter valued at approximately $1,449,000. J. Goldman & Co LP bought a new position in Texas Roadhouse in the 2nd quarter valued at approximately $10,434,000. Finally, Bamco Inc. NY purchased a new stake in Texas Roadhouse during the 2nd quarter valued at $60,148,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company’s concepts include Texas Roadhouse steakhouses, Bubba’s 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.