Texas Roadhouse (NASDAQ:TXRH) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $70.00 target price on the restaurant operator’s stock. Stephens’ price objective would suggest a potential upside of 16.55% from the stock’s previous close.
TXRH has been the subject of a number of other research reports. BidaskClub downgraded shares of Texas Roadhouse from a “strong-buy” rating to a “buy” rating in a report on Friday, January 25th. Stifel Nicolaus downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Tuesday, January 22nd. Wedbush restated a “hold” rating and set a $62.00 price target on shares of Texas Roadhouse in a report on Wednesday, February 20th. ValuEngine downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Finally, Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.71.
Shares of NASDAQ TXRH opened at $60.06 on Wednesday. The company has a market cap of $4.33 billion, a PE ratio of 27.30, a PEG ratio of 2.07 and a beta of 0.68. Texas Roadhouse has a 1 year low of $55.75 and a 1 year high of $75.24.
In other Texas Roadhouse news, COO Douglas W. Thompson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the completion of the transaction, the chief operating officer now owns 45,530 shares of the company’s stock, valued at approximately $2,689,457.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Scott Matthew Colosi sold 34,247 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $62.39, for a total transaction of $2,136,670.33. Following the completion of the transaction, the president now directly owns 121,388 shares of the company’s stock, valued at approximately $7,573,397.32. The disclosure for this sale can be found here. Insiders have sold a total of 46,988 shares of company stock valued at $2,917,256 in the last ninety days. 5.89% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Berman Capital Advisors LLC purchased a new position in Texas Roadhouse in the 4th quarter valued at approximately $27,000. Enlightenment Research LLC purchased a new stake in shares of Texas Roadhouse during the 4th quarter worth $42,000. Advisory Services Network LLC lifted its position in shares of Texas Roadhouse by 34.7% during the 4th quarter. Advisory Services Network LLC now owns 851 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 219 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Texas Roadhouse by 8.7% during the 4th quarter. Bank of Montreal Can now owns 2,100 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 168 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC lifted its position in shares of Texas Roadhouse by 10.0% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 2,750 shares of the restaurant operator’s stock worth $191,000 after purchasing an additional 250 shares during the last quarter. 88.67% of the stock is owned by institutional investors.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 19, 2019, it owned and operated approximately 580 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
Further Reading: Liquidity
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