This Play on the Reopening Economy Is Already Quietly Crushing Market Returns
Share prices of steakhouse chain Texas Roadhouse (NASDAQ: TXRH) are back to hitting all-time highs and have advanced some 26% over the trailing-12-month stretch. Many names in the restaurant industry are a bet on the gradual reopening of the economy, but this chain is already delivering the goods long before a full recovery.
Here's why I'm still bullish on my favorite restaurant stock.
The big news during the final months of 2020 was of course a new round of shutdowns and dining room restrictions in many areas to try and slow the spread of the coronavirus. Texas Roadhouse CEO Kent Taylor said on the earnings call about 90 dining rooms were closed starting in mid-November. Given Texas Roadhouse had 537 domestic company-operated locations and another 69 domestic franchised locations at the end of the year, the closures were significant.
Source Fool.com
