Texas Roadhouse (NASDAQ:TXRH) Cut to “Hold” at Gordon Haskett

Gordon Haskett downgraded shares of Texas Roadhouse (NASDAQ:TXRH) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have $192.00 target price on the restaurant operator’s stock.

A number of other research analysts also recently weighed in on TXRH. UBS Group increased their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Truist Financial upped their price target on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Texas Roadhouse in a report on Thursday, December 19th. Fourteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and a consensus price target of $190.26.

Texas Roadhouse Trading Down 2.2 %

Shares of Texas Roadhouse stock opened at $178.12 on Wednesday. The firm has a market capitalization of $11.88 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The business’s fifty day simple moving average is $190.48 and its 200 day simple moving average is $178.50. Texas Roadhouse has a 12 month low of $115.48 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts predict that Texas Roadhouse will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now owns 3,532 shares of the company’s stock, valued at $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,480 shares of company stock valued at $668,603 over the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TXRH. Marshall Wace LLP boosted its stake in shares of Texas Roadhouse by 128.9% in the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares in the last quarter. FMR LLC boosted its position in Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after buying an additional 403,720 shares during the period. Franklin Resources Inc. grew its stake in shares of Texas Roadhouse by 76.0% during the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock valued at $157,375,000 after buying an additional 385,998 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Texas Roadhouse in the third quarter worth about $66,609,000. Finally, Fiera Capital Corp purchased a new position in shares of Texas Roadhouse in the third quarter worth about $41,670,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.