Texas Roadhouse (TXRH) NewsBite - TXRH Downgraded By Cowen & Co.
Posted: Wednesday, August 12, 2009 9:55 AM EDT
By: Market Intelligence Center Staff
Texas Roadhouse (TXRH) was downgraded today by analysts at Cowen & Co. and the stock is now at $9.84, down $0.63 (-6.02%) on volume of 128,841 shares traded. The analysts reduced TXRH to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $4.09 to a high of $12.75. Texas Roadhouse stock has been showing support around $10.26 and resistance in the $10.72 range. Technical indicators for the stock are bearish and S&P gives TXRH a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on TXRH the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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