Texas Roadhouse (NASDAQ:TXRH) Upgraded to "Strong-Buy" at Seaport Research Partners

Key Points

• Seaport Research Partners upgraded Texas Roadhouse to “strong buy.” The broader analyst consensus remains “Moderate Buy,” with a consensus price target of $209.40.
• Texas Roadhouse exceeded quarterly expectations, reporting $1.85 in EPS versus $1.83 expected and $1.68 billion in revenue versus $1.67 billion projected; revenue increased 11.1% year over year.
• Insiders have sold 20,396 shares worth approximately $4.14 million over the past 90 days, while institutional investors continue to own a significant 94.82% of the company.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) was upgraded by equities researchers at Seaport Research Partners to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

TXRH has been the subject of several other reports. Piper Sandler boosted their price target on Texas Roadhouse from $192.00 to $208.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. TD Cowen raised their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 7th. Stephens lifted their target price on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Benchmark reaffirmed a "hold" rating on shares of Texas Roadhouse in a report on Monday, August 10th. Finally, BMO Capital Markets increased their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a "market perform" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.40.

Texas Roadhouse Trading Up 0.2%

TXRH stock opened at $170.07 on Tuesday. Texas Roadhouse has a 12-month low of $153.82 and a 12-month high of $216.30. The business's 50-day moving average is $196.91 and its 200 day moving average is $180.86. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.67 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its 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. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, sell-side analysts anticipate that Texas Roadhouse will post 6.64 EPS for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In other news, insider Lloyd Marshall sold 500 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider owned 9,826 shares of the company's stock, valued at approximately $2,010,890.90. The trade was a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hugh Carroll sold 650 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares of the company's stock, valued at $588,103.17. This represents a 18.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 20,396 shares of company stock worth $4,143,825. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of Texas Roadhouse

Hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in shares of Texas Roadhouse during the 2nd quarter valued at approximately $232,000. NewEdge Advisors LLC grew its position in Texas Roadhouse by 21.7% in the second quarter. NewEdge Advisors LLC now owns 3,909 shares of the restaurant operator's stock worth $755,000 after acquiring an additional 696 shares during the period. IFP Advisors Inc increased its stake in Texas Roadhouse by 77.9% during the second quarter. IFP Advisors Inc now owns 3,659 shares of the restaurant operator's stock worth $707,000 after acquiring an additional 1,602 shares during the last quarter. Allworth Financial LP increased its stake in Texas Roadhouse by 23.7% during the second quarter. Allworth Financial LP now owns 4,281 shares of the restaurant operator's stock worth $827,000 after acquiring an additional 820 shares during the last quarter. Finally, West Family Investments Inc. purchased a new stake in Texas Roadhouse in the second quarter valued at $610,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

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, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company's concepts include Texas Roadhouse steakhouses, Bubba's 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.

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