Texas Roadhouse upgraded to outperform from sector perform at RBC Capital Markets

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Texas Roadhouse shares fall after earnings miss

Texas Roadhouse Inc. shares dropped more than 9% in the extended session Monday after the restaurant company missed on the top and bottom line. The company reported second-quarter net income of $44.2 million, or 62 cents a share, compared with $37.6 million, or 53 cents a share, in the year-ago period. Revenue rose to $629.2 million from $566.3 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 68 cents a share on revenue of $634.5 million. For the third quarter, analysts model earnings of 54 cents a share on revenue of $534 million. Texas Roadhouse shares closed down 2.6% to $66.10. Texas Roadhouse shares have gained 26% this year, with the S&P 500 index rising 4.8%.

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