Texas Roadhouse (NASDAQ:TXRH) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Texas Roadhouse shares crossed above their 200-day moving average, reaching $183.69 and last trading at $182.96, up 4.7% with roughly 1.8 million shares changing hands.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $206.77; recent targets range from $195 to $235.
• The company exceeded quarterly earnings and revenue expectations, reporting $1.85 in EPS and $1.68 billion in revenue, while paying a $0.75 quarterly dividend and posting 11.1% year-over-year revenue growth.

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $179.17 and traded as high as $183.69. Texas Roadhouse shares last traded at $182.96, with a volume of 1,785,171 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank Of Canada decreased their price target on Texas Roadhouse from $235.00 to $220.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. UBS Group upped their price objective on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Texas Roadhouse from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $235.00 price objective on shares of Texas Roadhouse in a report on Monday, August 3rd. Finally, Seaport Research Partners assumed coverage on shares of Texas Roadhouse in a research report on Wednesday, September 16th. They issued a "buy" rating and a $195.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $206.77.

Texas Roadhouse Stock Up 4.7%

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 firm has a market capitalization of $12.01 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80. The firm has a 50-day moving average of $174.57 and a two-hundred day moving average of $179.17.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.48 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Roadhouse's payout ratio is currently 48.00%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Hugh J. Carroll sold 650 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at approximately $588,103.17. This represents a 18.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were 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 of the company's stock, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,970 shares of company stock worth $4,061,808. Company insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC increased its holdings in Texas Roadhouse by 5,033.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Signature Equity Partners LLC lifted its position in shares of Texas Roadhouse by 906.2% during the third quarter. Signature Equity Partners LLC now owns 161 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 145 shares during the last quarter. Silvant Capital Management LLC acquired a new position in Texas Roadhouse in the second quarter worth about $32,000. Coppell Advisory Solutions LLC acquired a new position in Texas Roadhouse in the second quarter worth about $38,000. Finally, Western Wealth Management LLC acquired a new position in Texas Roadhouse in the first quarter worth about $47,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc NASDAQ: TXRH operates full-service casual dining restaurants under the Texas Roadhouse, Bubba's 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company's restaurant network includes company-owned and franchised locations across the United States, as well as international locations.

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