Texas Roadhouse (NASDAQ:TXRH – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
A number of other brokerages have also recently issued reports on TXRH. Truist Financial boosted their price objective on Texas Roadhouse from $110.00 to $120.00 in a research note on Friday, May 5th. Credit Suisse Group upped their target price on Texas Roadhouse from $115.00 to $123.00 in a research note on Friday, May 5th. UBS Group increased their price objective on Texas Roadhouse from $110.00 to $127.00 in a research note on Monday, May 8th. BTIG Research upped their target price on Texas Roadhouse from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Finally, Loop Capital increased their price objective on Texas Roadhouse from $124.00 to $131.00 in a report on Friday, May 5th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.44.
Texas Roadhouse Stock Performance
Shares of NASDAQ:TXRH opened at $115.86 on Friday. The company’s 50-day moving average is $108.40 and its 200 day moving average is $102.46. The company has a market capitalization of $7.76 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. Texas Roadhouse has a fifty-two week low of $68.58 and a fifty-two week high of $116.72.
Insider Activity at Texas Roadhouse
In related news, President Regina A. Tobin sold 2,215 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $103.84, for a total transaction of $230,005.60. Following the transaction, the president now directly owns 13,248 shares of the company’s stock, valued at approximately $1,375,672.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Texas Roadhouse news, Director Gregory N. Moore sold 6,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $109.06, for a total transaction of $654,360.00. Following the transaction, the director now owns 51,050 shares in the company, valued at $5,567,513. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Regina A. Tobin sold 2,215 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $103.84, for a total value of $230,005.60. Following the transaction, the president now directly owns 13,248 shares of the company’s stock, valued at approximately $1,375,672.32. The disclosure for this sale can be found here. Insiders sold a total of 13,702 shares of company stock worth $1,478,405 in the last quarter. 0.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Texas Roadhouse
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Securian Asset Management Inc. boosted its position in shares of Texas Roadhouse by 1.6% during the 4th quarter. Securian Asset Management Inc. now owns 6,162 shares of the restaurant operator’s stock worth $560,000 after acquiring an additional 100 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of Texas Roadhouse by 3.6% during the 4th quarter. Meritage Portfolio Management now owns 3,049 shares of the restaurant operator’s stock worth $277,000 after buying an additional 107 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Texas Roadhouse by 3.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,121 shares of the restaurant operator’s stock worth $375,000 after acquiring an additional 124 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in shares of Texas Roadhouse by 3.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,121 shares of the restaurant operator’s stock worth $375,000 after acquiring an additional 124 shares during the period. Finally, First Republic Investment Management Inc. grew its holdings in Texas Roadhouse by 0.8% during the 1st quarter. First Republic Investment Management Inc. now owns 16,561 shares of the restaurant operator’s stock valued at $1,790,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches.
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