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Texas Roadhouse: The Popular US Restaurant for Steaks
Texas Roadhouse is an American chain restaurant headquartered in Louisville, Kentucky that specializes in steaks and promotes a Western theme. The restaurant chain operates about 450 locations in 49 U.S. states as of July 2015, and in Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Philippines and Taiwan. It is best known for its free buckets of peanuts and yeast rolls at each table along with its famous steak, ribs, chicken and seafood. The company trades under the name TXRH on NASDAQ. W. Kent Taylor is the Chief of Board of Directors and CEO of the company. Mr S. Chris Jacobsen is serving the office of Chief Marketing Officer. Gregory N. Moore is the Lead Independent Director and James R. Zarley and James F. Parker is the Independent Directors of TXRH.
Current market value
Slightly more than nine million shares were sold to the public when the company made its IPO at $17.50 per share, raising the company’s value $159.3 million. In the trailing twelve months, the company has reported a revenue of US$ 1.96 billion. During the same year, its revenue per share has been US$ 27.89. Its quarterly growth year over year stands at 9. Percent leading to a gross profit of US$ 1.16 billion. The company reported a total revenue of $1,807,368 in 2015, which was much higher than its revenue in 2014 that came out to be $1,582,148 million. Its gross profit for 2015 hence was reported as $1,163,367 million as compared to $1,029,004 million in 2014.
The results of Texas Roadhouse for Q2 2015 were even better as they reported sales growth of 4.5% at company restaurants and 2.6% at franchise restaurants. Furthermore, the restaurant margin in terms of restaurant sales percentage increased 302 basis points to 19.2%, which included major contribution of lower food costs. During the same quarter, it opened seven company-owned restaurants including Bubba’s 33 restaurant. Throughout the period between Q2 2015 and Q2 2016, it invested $4.1 million to repurchase 114,700 shares of its common stock and 14- company owned restaurants came into fray. These numbers are staggering enough to motivate the investors buy Texas Roadhouse properties/franchise or have them on lease to expect exceptional returns in the better future.
The first Texas Roadhouse restaurant was opened in 1993 by W. Kent Taylor in Clarksville, Indiana. In 1997, the restaurant chain raised a US$ five million in a private placement. By the end of 1999, there were 67 restaurants operating across the US. By the time the company celebrated its tenth anniversary, it had grown and all set to break into the rank of the industry’s elite. The restaurant chain had expanded to 162 locations across 30 states of USA before 2004. The annual growth of the company soared from US$ 71 million to US$ 286 million in the span of a few years. Profits jumped upward and rose high. The company finished its Initial Public Offering in October 2004, after which it changed its name from Texas Roadhouse LLC to Texas Roadhouse, Inc. Taylor remained the head of financial control of the company after the IPO and held 61.6 percent of Texas Roadhouse stock.
The Texas Roadhouse stock shot up to its all-time highs during the last quarter of 2016 on an analyst price target increase. It is also reported that, 2016 has been an exceptional year for TXRH to around 40 percent up in its business. The analysts are highly optimistic about the company’s growth to continue even in 2017. Unlike its rivals, Texas Roadhouse, just logged its 26th quarter in a row of positive comparable-restaurant sales growth by the end of the fourth quarter of 2016. The share prices of the company have soared up lately, but this is a solid long-term bet for your investment.
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