Texas Roadhouse (NASDAQ: TXRH) share price drops 3.7% following downgrade by analysts
Texas Roadhouse, Inc. (NASDAQ: TXRH) traded down 3.7% on Wednesday after Morgan Stanley lowered its share price target from $ 106.00 to $ 105.00. Morgan Stanley currently has an equal weight rating on the stock. Texas Roadhouse traded as low as $ 88.00 and last traded at $ 88.28. 6,650 stocks changed hands at midday, down 99% from the average session volume of 802,189 stocks. The stock previously closed at $ 91.66.
A number of other equity research analysts also weighed on TXRH. Raymond James reduced his target price on Texas Roadhouse shares from $ 115 to $ 108.00 and established a strong buy rating for the company in a research note on Wednesday, September 15. BTIG Research reiterated a “buy” note and set a target price of $ 125 for Texas Roadhouse shares in a research note on Friday, July 30. Zacks Investment Research downgraded Texas Roadhouse shares from a “hold” rating to a “sell” rating in a research note on Wednesday. Wedbush lowered its target price on Texas Roadhouse shares from $ 122.00 to $ 105 and established an “outperformance” rating for the company in a research note on Wednesday, August 25. They noted that the move was an appraisal call. Finally, Evercore ISI lowered its target price on Texas Roadhouse shares from $ 110.00 to $ 100.00 and established an “online” rating for the company in a research note on Monday, August 2. One research analyst rated the stock with a sell rating, ten assigned a conservation rating, eight assigned a buy rating, and one assigned a high buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $ 107.20.
Institutional investors recently changed their holdings of equities. Cullen Frost Bankers Inc. purchased a new position in Texas Roadhouse in the second quarter valued at $ 34,000. Psagot Investment House Ltd. purchased a new position in Texas Roadhouse in the second quarter valued at $ 72,000. Bbva USA purchased a new position in Texas Roadhouse in the 2nd quarter valued at $ 79,000. Wolverine Asset Management LLC purchased a new position in Texas Roadhouse in the 1st quarter valued at $ 109,000. Finally, Centaurus Financial Inc. purchased a new position in Texas Roadhouse in the second quarter valued at $ 123,000. 90.51% of the shares are held by institutional investors.
The company’s fifty-day simple moving average is $ 92.15 and its 200-day simple moving average is $ 95.72. The company has a market cap of $ 6.17 billion, a P / E ratio of 32.90, a P / E / G ratio of 2.48 and a beta of 1.09. The company has a leverage ratio of 0.18, a quick ratio of 1.16, and a current ratio of 1.21.
Texas Roadhouse (NASDAQ: TXRH) last released its quarterly earnings data on Thursday, July 29. The restaurateur reported EPS of $ 1.08 for the quarter, beating the consensus estimate of $ 1.01 by $ 0.07. Texas Roadhouse had a net margin of 6.35% and a return on equity of 19.16%. The company posted revenue of $ 898.79 million in the quarter, compared to a consensus estimate of $ 870.34 million. On average, equity research analysts predict that Texas Roadhouse, Inc. will post earnings per share of 3.71 for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 24. Shareholders of record on Wednesday, September 8 received a dividend of $ 0.40 per share. This represents an annualized dividend of $ 1.60 and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 7. Texas Roadhouse’s dividend payout ratio is 355.56%.
Texas Roadhouse Company Profile (NASDAQ: TXRH)
Texas Roadhouse, Inc is a casual, full-service restaurant chain, offering an assortment of seasoned and aged steaks hand-cut daily on site and cooked to order on open gas grills. It operates restaurants under the names Texas Roadhouse and Aspen Creek. The company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable platters, an assortment of burgers, salads and sandwiches.
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