Short Interest in Texas Roadhouse Inc (NASDAQ:TXRH) Declines By 23.9%

Texas Roadhouse Inc (NASDAQ:TXRH) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 4,770,000 shares, a drop of 23.9% from the June 15th total of 6,270,000 shares. Approximately 7.4% of the company’s stock are short sold. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is currently 2.8 days.

Shares of NASDAQ TXRH traded down $2.62 during trading on Tuesday, reaching $49.07. 61,273 shares of the company traded hands, compared to its average volume of 1,438,231. The firm’s fifty day simple moving average is $52.53 and its 200 day simple moving average is $52.43. The stock has a market cap of $3.48 billion, a P/E ratio of 25.14, a PEG ratio of 32.77 and a beta of 0.94. Texas Roadhouse has a 12-month low of $25.15 and a 12-month high of $72.49. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Monday, May 4th. The restaurant operator reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.25). Texas Roadhouse had a net margin of 5.15% and a return on equity of 15.33%. The business had revenue of $652.50 million during the quarter, compared to analysts’ expectations of $663.22 million. During the same quarter in the prior year, the firm earned $0.70 EPS. Texas Roadhouse’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, research analysts expect that Texas Roadhouse will post 0.15 EPS for the current year.

TXRH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Texas Roadhouse from an “underweight” rating to a “neutral” rating and set a $55.00 price objective for the company in a research report on Wednesday, June 24th. Jefferies Financial Group raised their price objective on Texas Roadhouse from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Morgan Stanley raised their price objective on Texas Roadhouse from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Loop Capital lowered their price objective on Texas Roadhouse from $66.00 to $54.00 in a research report on Tuesday, May 5th. Finally, BTIG Research reissued a “buy” rating on shares of Texas Roadhouse in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.22.

Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $4,787,000. Acadian Asset Management LLC purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at about $35,000. First Quadrant L P CA purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at about $47,000. FDx Advisors Inc. purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at about $247,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at about $166,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

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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