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

Zacks Investment Research lowered shares of Texas Roadhouse (NASDAQ:TXRH) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

According to Zacks, “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. It also provides supervisory and administrative services for other license and franchise restaurants. “

A number of other equities research analysts have also weighed in on TXRH. Robert W. Baird reaffirmed a buy rating and set a $56.00 target price on shares of Texas Roadhouse in a research note on Tuesday, September 19th. Stifel Nicolaus initiated coverage on shares of Texas Roadhouse in a research note on Monday, October 2nd. They set a buy rating and a $55.00 target price on the stock. Barclays cut their target price on shares of Texas Roadhouse from $56.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, October 18th. Maxim Group reaffirmed a buy rating and set a $55.00 target price on shares of Texas Roadhouse in a research note on Friday, October 20th. Finally, Canaccord Genuity reissued a hold rating and set a $51.00 price target on shares of Texas Roadhouse in a research report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $51.79.

Shares of Texas Roadhouse (NASDAQ:TXRH) opened at $56.73 on Friday. The firm has a market cap of $4,064.42, a PE ratio of 32.79, a PEG ratio of 2.05 and a beta of 0.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.69. Texas Roadhouse has a 52 week low of $40.28 and a 52 week high of $57.55.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, October 30th. The restaurant operator reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $540.50 million for the quarter, compared to analyst estimates of $538.15 million. Texas Roadhouse had a net margin of 5.73% and a return on equity of 16.71%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. sell-side analysts forecast that Texas Roadhouse will post 1.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Wednesday, December 13th were issued a $0.21 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.84 annualized dividend and a yield of 1.48%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 48.56%.

In other news, CEO Wayne Kent Taylor sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $51.09, for a total transaction of $10,218,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,908,231 shares of the company’s stock, valued at $199,671,521.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Celia Catlett sold 3,663 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $49.34, for a total transaction of $180,732.42. The disclosure for this sale can be found here. Insiders sold 204,963 shares of company stock valued at $10,464,850 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXRH. YorkBridge Wealth Partners LLC raised its holdings in shares of Texas Roadhouse by 4.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 87 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Texas Roadhouse by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,612 shares of the restaurant operator’s stock valued at $133,000 after buying an additional 258 shares during the period. Advisor Group Inc. grew its position in Texas Roadhouse by 26.8% during the second quarter. Advisor Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 593 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Texas Roadhouse during the third quarter valued at approximately $193,000. Finally, M&T Bank Corp bought a new stake in Texas Roadhouse during the second quarter valued at approximately $211,000. 85.95% of the stock is owned by hedge funds and other institutional investors.

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About Texas Roadhouse

Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.

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