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Upgrade Alert for Texas Roadhouse (TXRH)

By Amy Schwartz

Texas Roadhouse (NASDAQ:TXRH) was upgraded from Hold to Buy at Maxim today. The stock closed yesterday at $38.29 on volume of 704,000 shares, below average daily volume of 760,000.

Texas Roadhouse (NASDAQ:TXRH) has potential upside of 6.0% based on a current price of $38.29 and analysts' consensus price target of $40.59. The stock should hit resistance at its 50-day moving average (MA) of $42.66, as well as support at its 200-day MA of $37.99.

Texas Roadhouse, Inc. is a moderately priced, full service restaurant chain.

In the past 52 weeks, Texas Roadhouse share prices have been bracketed by a low of $31.55 and a high of $48.99 and closed yesterday at $38.29, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Texas Roadhouse on August 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $42.63. Since that call, shares of Texas Roadhouse have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Texas Roadhouse

Ticker(s): TXRH