Canandaigua National Bank & Trust Co. cut its stake in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,974 shares of the restaurant operator’s stock after selling 1,126 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Texas Roadhouse were worth $414,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Boston Advisors LLC acquired a new stake in shares of Texas Roadhouse during the second quarter worth $1,711,000. Carillon Tower Advisers Inc. grew its stake in shares of Texas Roadhouse by 31.1% during the second quarter. Carillon Tower Advisers Inc. now owns 179,844 shares of the restaurant operator’s stock worth $11,782,000 after purchasing an additional 42,700 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Texas Roadhouse by 4.5% during the second quarter. Eagle Asset Management Inc. now owns 124,672 shares of the restaurant operator’s stock worth $8,167,000 after purchasing an additional 5,372 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Texas Roadhouse by 1.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 507,747 shares of the restaurant operator’s stock worth $33,263,000 after purchasing an additional 5,233 shares during the period. Finally, CSat Investment Advisory L.P. acquired a new stake in shares of Texas Roadhouse during the second quarter worth $435,000. 91.50% of the stock is owned by institutional investors and hedge funds.
TXRH has been the subject of a number of research analyst reports. Wedbush cut Texas Roadhouse from an “outperform” rating to a “neutral” rating and set a $67.00 target price for the company. in a research note on Monday, September 10th. They noted that the move was a valuation call. Robert W. Baird cut Texas Roadhouse from an “outperform” rating to a “neutral” rating and set a $74.00 target price for the company. in a research note on Monday, September 10th. BidaskClub raised Texas Roadhouse from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Stephens cut Texas Roadhouse from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $75.00 to $70.00 in a research note on Wednesday, September 12th. They noted that the move was a valuation call. Finally, BTIG Research cut Texas Roadhouse from a “buy” rating to a “neutral” rating in a research note on Thursday, September 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.00.
In other news, COO Douglas W. Thompson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $68.75, for a total value of $687,500.00. Following the sale, the chief operating officer now directly owns 38,519 shares in the company, valued at $2,648,181.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James F. Parker sold 4,250 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $62.21, for a total value of $264,392.50. Following the completion of the sale, the director now owns 87,810 shares in the company, valued at $5,462,660.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,273 shares of company stock worth $1,238,107. Corporate insiders own 5.89% of the company’s stock.
Shares of Texas Roadhouse stock opened at $63.89 on Wednesday. The stock has a market capitalization of $4.44 billion, a PE ratio of 32.43, a PEG ratio of 2.40 and a beta of 0.77. Texas Roadhouse Inc has a one year low of $47.70 and a one year high of $75.24.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.14). The firm had revenue of $594.60 million during the quarter, compared to the consensus estimate of $594.16 million. Texas Roadhouse had a net margin of 6.53% and a return on equity of 17.39%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that Texas Roadhouse Inc will post 2.19 EPS for the current year.
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About Texas Roadhouse
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 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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