Short Interest in Texas Roadhouse Inc (NASDAQ:TXRH) Rises By 6.0%

Texas Roadhouse Inc (NASDAQ:TXRH) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 5,140,000 shares, a growth of 6.0% from the December 15th total of 4,850,000 shares. Based on an average daily volume of 796,700 shares, the short-interest ratio is presently 6.5 days. Currently, 7.9% of the shares of the stock are short sold.

A number of large investors have recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in Texas Roadhouse by 27.7% in the first quarter. First Trust Advisors LP now owns 63,746 shares of the restaurant operator’s stock valued at $3,964,000 after acquiring an additional 13,833 shares in the last quarter. Russell Investments Group Ltd. increased its position in Texas Roadhouse by 0.6% during the second quarter. Russell Investments Group Ltd. now owns 42,535 shares of the restaurant operator’s stock worth $2,284,000 after buying an additional 262 shares during the period. Bank of Montreal Can increased its position in Texas Roadhouse by 724.0% during the second quarter. Bank of Montreal Can now owns 6,493 shares of the restaurant operator’s stock worth $349,000 after buying an additional 5,705 shares during the period. United Capital Financial Advisers LLC purchased a new stake in Texas Roadhouse in the second quarter valued at approximately $795,000. Finally, BlackRock Inc. lifted its stake in Texas Roadhouse by 3.7% in the second quarter. BlackRock Inc. now owns 8,553,667 shares of the restaurant operator’s stock valued at $459,074,000 after buying an additional 308,212 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

TXRH has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Saturday, December 28th. Wells Fargo & Co dropped their target price on shares of Texas Roadhouse from $56.00 to $48.00 and set a “market perform” rating for the company in a report on Tuesday, October 22nd. ValuEngine raised Texas Roadhouse from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Raymond James upgraded Texas Roadhouse from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $63.00 to $68.00 in a research note on Monday. Finally, Barclays decreased their price target on Texas Roadhouse from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.50.

Shares of NASDAQ TXRH opened at $56.70 on Wednesday. The stock’s 50-day simple moving average is $56.50 and its 200-day simple moving average is $54.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.44 and a current ratio of 0.50. The firm has a market capitalization of $3.88 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59. Texas Roadhouse has a fifty-two week low of $47.52 and a fifty-two week high of $67.67.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Monday, October 28th. The restaurant operator reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.06. Texas Roadhouse had a net margin of 6.15% and a return on equity of 17.23%. The business had revenue of $650.49 million during the quarter, compared to the consensus estimate of $648.49 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Texas Roadhouse will post 2.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.20 annualized dividend and a yield of 2.12%. Texas Roadhouse’s dividend payout ratio is currently 54.55%.

Texas Roadhouse Company Profile

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 April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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