Equities research analysts forecast that Texas Roadhouse Inc (NASDAQ:TXRH) will post sales of $597.47 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Texas Roadhouse’s earnings. The highest sales estimate is $602.86 million and the lowest is $594.14 million. Texas Roadhouse reported sales of $545.08 million in the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, February 19th.
According to Zacks, analysts expect that Texas Roadhouse will report full-year sales of $2.45 billion for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $2.73 billion, with estimates ranging from $2.67 billion to $2.76 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Texas Roadhouse.
Several equities analysts have recently weighed in on TXRH shares. BMO Capital Markets reduced their price objective on shares of Texas Roadhouse from $58.00 to $53.00 and set an “underperform” rating for the company in a research report on Tuesday, October 30th. Maxim Group upped their price objective on shares of Texas Roadhouse from $67.00 to $72.00 and gave the company a “hold” rating in a research note on Thursday, October 25th. BidaskClub raised shares of Texas Roadhouse from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. Gordon Haskett started coverage on shares of Texas Roadhouse in a research note on Thursday, October 18th. They set an “underperform” rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on shares of Texas Roadhouse to $74.00 and set an “outperform” rating for the company in a research note on Wednesday, October 17th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.00.
In other news, President Scott Matthew Colosi sold 6,741 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $63.22, for a total value of $426,166.02. Following the completion of the sale, the president now directly owns 68,202 shares of the company’s stock, valued at $4,311,730.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.89% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TXRH. Oregon Public Employees Retirement Fund raised its position in Texas Roadhouse by 5,870.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,541,514 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 1,515,693 shares in the last quarter. Enlightenment Research LLC acquired a new position in Texas Roadhouse during the fourth quarter valued at approximately $42,000. Bank of Montreal Can grew its holdings in Texas Roadhouse by 8.7% during the fourth quarter. Bank of Montreal Can now owns 2,100 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 168 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Texas Roadhouse by 383.6% during the fourth quarter. Advisors Asset Management Inc. now owns 2,858 shares of the restaurant operator’s stock valued at $171,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC grew its holdings in Texas Roadhouse by 10.0% during the third quarter. Paradigm Asset Management Co. LLC now owns 2,750 shares of the restaurant operator’s stock valued at $191,000 after purchasing an additional 250 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:TXRH traded down $0.45 during trading hours on Monday, hitting $62.88. 482,433 shares of the company’s stock traded hands, compared to its average volume of 779,793. Texas Roadhouse has a 52 week low of $53.05 and a 52 week high of $75.24. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71.
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 October 29, 2018, it owned and operated approximately 575 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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