Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Texas Roadhouse's second-quarter earnings results displayed persistent strength and growth, embodying a positive narrative tinged by concerns customary to the restaurant industry.</li><li>The upward trajectory in revenue, coupled with stable expansion, underscore the company's robust operational standing.</li><li>The company heralded a commendable increase in its revenue, attaining over $1.3 billion, facilitated by a notable same-store sales growth of 9.3% and the continual opening of new store locations.</li></ul>

Texas Roadhouse's second-quarter earnings results displayed persistent strength and growth, embodying a positive narrative tinged by concerns customary to the restaurant industry.The upward trajectory in revenue, coupled with stable expansion, underscore the company's robust operational standing.The company heralded a commendable increase in its revenue, attaining over $1.3 billion, facilitated by a notable same-store sales growth of 9.3% and the continual opening of new store locations.

Texas Roadhouse Inc.: What Are Their Strategic Expansion Plans? - Major Drivers

<ul><li>Texas Roadhouse's Q1 2024 earnings highlight a robust display of operational performance, driven by solid momentum across all segments and brands.</li><li>With quarterly revenue surpassing $1.3 billion, a same-store sales growth of 8.4%, and continued commitment to guest experience and quality consistency, Texas Roadhouse has set a robust start for 2024.</li><li>Despite a climate of economic uncertainties, the company posted record sales, margin dollars, and net income for the first quarter.</li></ul>

Texas Roadhouse's Q1 2024 earnings highlight a robust display of operational performance, driven by solid momentum across all segments and brands.With quarterly revenue surpassing $1.3 billion, a same-store sales growth of 8.4%, and continued commitment to guest experience and quality consistency, Texas Roadhouse has set a robust start for 2024.Despite a climate of economic uncertainties, the company posted record sales, margin dollars, and net income for the first quarter.

Texas Roadhouse: How Is The Management Developing Its Secondary Brands? - Major Drivers

<ul><li>This is our first report on dining restaurant chain, Texas Roadhouse Inc.</li><li>The year 2023 proved to be a successful year for the company.</li><li>Texas Roadhouse generated over $4.6 billion in revenue and saw an increase in average unit volumes to more than $7.6 million.</li></ul>

This is our first report on dining restaurant chain, Texas Roadhouse Inc.The year 2023 proved to be a successful year for the company.Texas Roadhouse generated over $4.6 billion in revenue and saw an increase in average unit volumes to more than $7.6 million.

Texas Roadhouse Inc.: Initiation Of Coverage - Will Its Investments In Digital Technology Pay Off? - Major Drivers

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>Our monthly WTR restaurant and retail report focuses on stock performance, short interest, an outlook for restaurant commodity costs, interesting themes, and companies in focus.</li><li>In this note, we highlight Texas Roadhouse (TXRH) given the 16% pullback in the stock since July and industry-leading traffic trends that are likely to continue over the foreseeable future</li><li>Restaurants perform in line and retailers underperform indexes MTD.</li></ul>

Our monthly WTR restaurant and retail report focuses on stock performance, short interest, an outlook for restaurant commodity costs, interesting themes, and companies in focus.In this note, we highlight Texas Roadhouse (TXRH) given the 16% pullback in the stock since July and industry-leading traffic trends that are likely to continue over the foreseeable futureRestaurants perform in line and retailers underperform indexes MTD.

Restaurant & Retail Roundup - Highlighting Texas Roadhouse (TXRH)

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>More restrictive Fed policy than expected is disproportionately hitting small/mid-caps which are more sensitive to higher interest rates. This suggests we could see further consolidation for small- and mid-caps.</li>
<li>Large-Caps (SPX, Nasdaq 100, DJI) remain bullish on continued strength from mega-caps (AMZN, META, NVDA,MSFT). Our bullish outlook remains appropriate, but we discuss what would lead us to get cautious.</li>
<li>1-, 2-, and 10-year Treasury yields testing resistance today and failing. U.S. dollar (DXY) also testing key resistance at $104.60. We also push back on the bad breadth argument (again).</li>
</ul>


More restrictive Fed policy than expected is disproportionately hitting small/mid-caps which are more sensitive to higher interest rates. This suggests we could see further consolidation for small- and mid-caps.
Large-Caps (SPX, Nasdaq 100, DJI) remain bullish on continued strength from mega-caps (AMZN, META, NVDA,MSFT). Our bullish outlook remains appropriate, but we discuss what would lead us to get cautious.
1-, 2-, and 10-year Treasury yields testing resistance today and failing. U.S. dollar (DXY) also testing key resistance at $104.60. We also push back on the bad breadth argument (again).


Monitoring Rising Treasury Yields & U.S. Dollar (DXY); What Would Lead Us to Get Cautious?

United States

Texas Roadhouse, Inc. is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. It also provides supervisory and administrative services for other license and franchise restaurants. Texas Roadhouse was founded by W. Kent Taylor on February 17, 1993 and is headquartered in Louisville, KY.

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Texas Roadhouse (TXRH US)

Texas Roadhouse Inc.: What Are Their Strategic Expansion Plans? - Major Drivers

Texas Roadhouse's second-quarter earnings results displayed persistent strength and growth, embodying a positive narrative tinged by concerns...

Baptista Research

Texas Roadhouse: How Is The Management Developing Its Secondary Brands? - Major Drivers

Texas Roadhouse's Q1 2024 earnings highlight a robust display of operational performance, driven by solid momentum across all segments and...

Baptista Research

Texas Roadhouse Inc.: Initiation Of Coverage - Will Its Investments In Digital Technology Pay Off? - Major Drivers

This is our first report on dining restaurant chain, Texas Roadhouse Inc. The year 2023 proved to be a successful year for the company. Texas...

Baptista Research

Restaurant & Retail Roundup - Highlighting Texas Roadhouse (TXRH)

Our monthly WTR restaurant and retail report focuses on stock performance, short interest, an outlook for restaurant commodity costs, interesting...

Water Tower Research

Monitoring Rising Treasury Yields & U.S. Dollar (DXY); What Would Lead Us to Get Cautious?

Monitoring Rising Treasury Yields & U.S. Dollar. 1-, 2-, and 10-year Treasury yields $TNX failing at shorter-term resistances today; $DXY below...

Vermilion Research

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