Texas Roadhouse (NASDAQ:TXRH) Cut to "In-Line" at Evercore ISI

Key Points

• Texas Roadhouse has been downgraded by Evercore ISI from an "outperform" rating to an "inline" rating, with a new target price of $190.00, which suggests a potential upside of 11.46% from its previous close.
• The company reported quarterly earnings of $1.86 EPS, missing estimates by $0.09, despite achieving a revenue of $1.51 billion, which was above analyst expectations.
• Insider trading showed significant activity, with Director Gregory N. Moore and President Regina A. Tobin selling shares that amounted to a total value of approximately $1.1 million.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) was downgraded by analysts at Evercore ISI from an "outperform" rating to an "in-line" rating in a research report issued on Thursday, MarketBeat reports. They presently have a $190.00 price objective on the restaurant operator's stock. Evercore ISI's target price points to a potential upside of 13.11% from the stock's previous close.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group upped their price target on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Stifel Nicolaus increased their target price on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Guggenheim boosted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $197.35.

Texas Roadhouse Trading Up 0.3%

Shares of NASDAQ TXRH traded up $0.50 during trading hours on Thursday, reaching $167.98. The stock had a trading volume of 827,739 shares, compared to its average volume of 1,111,674. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 2.31 and a beta of 0.84. Texas Roadhouse has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The firm has a 50-day moving average of $180.37 and a 200-day moving average of $178.76.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.79 earnings per share. On average, equities analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president owned 15,261 shares of the company's stock, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock valued at $1,443,704 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in Texas Roadhouse by 528.2% during the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator's stock valued at $594,603,000 after purchasing an additional 2,667,716 shares during the last quarter. Invesco Ltd. boosted its position in Texas Roadhouse by 17.2% during the second quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator's stock valued at $487,965,000 after purchasing an additional 382,699 shares during the last quarter. AQR Capital Management LLC boosted its position in Texas Roadhouse by 85.7% during the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator's stock valued at $439,102,000 after purchasing an additional 1,081,413 shares during the last quarter. Axiom Investors LLC DE boosted its position in Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Texas Roadhouse by 209.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.