Nick Setyan initiates with Outperform
Los Angeles, CA – January 12, 2018 – Wedbush Securities is pleased to announce the initiation of coverage on casual restaurant chain Texas Roadhouse Inc. (TXRH). Nick Setyan, Managing Director, Equity Research, initiated on Thursday, January 11, 2018 with an outperform rating. Texas Roadhouse joins Nick’s extensive list of companies under coverage that also include The Cheesecake Factory, Chipotle, Jack in the Box, Shake Shack, Starbucks, Wendy’s and more.
Texas Roadhouse Inc. is a casual dining restaurant chain with more than 500 locations. Its attractively priced and differentiated menu has driven 15 consecutive quarters of positive transaction growth, outperforming its category by 390 bps since Q1 2014.
“Texas Roadhouse’s same-store sales growth continues to buck industry trends, and our checks indicate no slowdown in Q4,” states Nick Setyan, Managing Director, Equity Research. “Not only do we believe Texas Roadhouse is well-positioned to sustain its comp outperformance in the future, but also see no reason for a slowdown in its unit growth rate, which is something we are seeing across the casual dining category.”
Jesse Bigelow, Wedbush Securities’ Director of Research adds, “Texas Roadhouse is an excellent addition to Nick’s Restaurant Industry Coverage. Nick continues to provide highly proprietary analysis, adding tremendous value to our buyside partners.”
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