Traders Buy Large Volume of Put Options on Texas Roadhouse (TXRH)

Texas Roadhouse Inc (NASDAQ:TXRH) saw unusually large options trading on Thursday. Investors purchased 1,050 put options on the company. This represents an increase of approximately 1,150% compared to the average volume of 84 put options.

TXRH stock opened at $61.45 on Friday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.37 and a beta of 0.62. Texas Roadhouse has a fifty-two week low of $47.70 and a fifty-two week high of $75.24.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.14). The firm had revenue of $594.60 million for the quarter, compared to the consensus estimate of $594.16 million. Texas Roadhouse had a return on equity of 17.39% and a net margin of 6.53%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, sell-side analysts forecast that Texas Roadhouse will post 2.19 earnings per share for the current fiscal year.

In other news, insider S. Chris Jacobsen sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $75.00, for a total transaction of $112,500.00. Following the sale, the insider now owns 13,533 shares in the company, valued at approximately $1,014,975. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tonya Robinson sold 1,023 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $67.17, for a total value of $68,714.91. Following the sale, the chief financial officer now owns 2 shares in the company, valued at approximately $134.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,273 shares of company stock worth $1,238,107. Company insiders own 5.89% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TXRH. FMR LLC increased its position in Texas Roadhouse by 44.9% during the 2nd quarter. FMR LLC now owns 2,170,345 shares of the restaurant operator’s stock worth $142,179,000 after buying an additional 672,768 shares during the period. OppenheimerFunds Inc. increased its position in Texas Roadhouse by 131.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 655,595 shares of the restaurant operator’s stock worth $42,948,000 after buying an additional 372,362 shares during the period. PNC Financial Services Group Inc. increased its position in Texas Roadhouse by 119.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 224,870 shares of the restaurant operator’s stock worth $14,732,000 after buying an additional 122,405 shares during the period. Marshall Wace LLP increased its position in Texas Roadhouse by 854.3% during the 2nd quarter. Marshall Wace LLP now owns 124,389 shares of the restaurant operator’s stock worth $8,149,000 after buying an additional 111,354 shares during the period. Finally, First Quadrant L P CA bought a new position in Texas Roadhouse during the 3rd quarter worth $5,137,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

TXRH has been the topic of a number of research analyst reports. BidaskClub cut Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Telsey Advisory Group increased their price target on Texas Roadhouse from $64.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, July 11th. Robert W. Baird increased their price target on Texas Roadhouse from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th. Maxim Group restated a “hold” rating and issued a $67.00 price target on shares of Texas Roadhouse in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada dropped their price target on Texas Roadhouse to $74.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.00.

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 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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