Long Position on TXRH @ $25.23 on 6/19/2013 (Momentum)

This is our selection for Wednesday July 19.

Texas Roadhouse (TXRH) operates a full service casual dining restaurant chain.

The company operates its restaurants under the Texas Roadhouse and Aspen Creek names. It also provides supervisory and administrative services for other license and franchise restaurants. As of April 29, 2013, the company operated 395 restaurants in 47 states and internationally.

Its restaurants included 324 company restaurants, of which 300 were wholly owned and 24 were majority-owned, and 72 franchise restaurants, of which 69 were franchise restaurants and three were license restaurants. It has a 5% to 10% ownership interest in 22 franchise restaurants.

Shares are in the process of breaking out of its recent bullish "flag." The flag began when it last reported its earnings in April. The next earnings is scheduled for July 29.

52-Week Trading Range: $15.72 - $25.56

Last Trade:  $25.23

Stop Loss:  $23.96

Target Price:  $27.75

Updates

7/19/2013 1:08:07 PM

TXRH was closed at $24.58 after it did not reach our target price in 30-days. We do still believe in the stock though!

Position closed on 7/19/2013 at price of $24.58 with a -2.58% loss in 30 days.

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