Texas Roadhouse (NASDAQ:TXRH) Stock Gets Price Target Reduction from TD Cowen

Texas Roadhouse (NASDAQ:TXRH) had its price target lowered by TD Cowen from $230.00 to $195.00 in a report issued on Friday,Benzinga reports. TD Cowen currently has a buy rating on the restaurant operator’s stock.

Several other brokerages also recently commented on TXRH. Jefferies Financial Group upgraded Texas Roadhouse from a “hold” rating to a “buy” rating and increased their target price for the company from $186.00 to $190.00 in a research note on Wednesday. Piper Sandler lifted their target price on Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Seaport Research Partners began coverage on Texas Roadhouse in a research note on Wednesday, September 16th. They issued a “buy” rating and a $195.00 price target for the company. UBS Group upped their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, BTIG Research increased their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.68.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $168.40 on Friday. The firm’s 50 day moving average price is $180.77 and its 200-day moving average price is $179.46. The company has a market cap of $11.05 billion, a PE ratio of 26.94, a P/E/G ratio of 1.68 and a beta of 0.80. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Texas Roadhouse will post 6.57 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.00%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory Moore sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the sale, the director owned 26,900 shares in the company, valued at $5,603,808. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lloyd Marshall sold 500 shares of the firm’s stock in a transaction dated 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 directly owned 9,826 shares in the company, valued at $2,010,890.90. This trade represents a 4.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,970 shares of company stock valued at $4,061,808 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Curated Wealth Partners LLC acquired a new stake in Texas Roadhouse in the third quarter worth about $575,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Texas Roadhouse by 4.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 142,258 shares of the restaurant operator’s stock worth $22,241,000 after acquiring an additional 6,311 shares during the last quarter. JGP Wealth Management LLC acquired a new position in shares of Texas Roadhouse during the third quarter valued at about $353,000. Riversedge Advisors LLC increased its holdings in shares of Texas Roadhouse by 4.1% during the third quarter. Riversedge Advisors LLC now owns 2,125 shares of the restaurant operator’s stock valued at $332,000 after acquiring an additional 84 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Texas Roadhouse by 24.3% during the third quarter. Farther Finance Advisors LLC now owns 1,772 shares of the restaurant operator’s stock valued at $277,000 after acquiring an additional 346 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Company Profile

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, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.