This weekend, in the midst of the most monumental credit downgrade in history, I found myself eating at a Texas Roadhouse Restaurant (TXRH) for the first time. It was a Saturday night in the middle of nowhere, New Jersey, and the place was packed. Eating there led me to look into the stock a bit, but first, a little about it, since I have always felt that you should know the products of companies you invest in.
Texas Roadhouse is a chain steakhouse with 350 locations. It seems to transcend typical steakhouses like Outback or Longhorn (DRI) and is more akin to that of Famous Dave’s (DAVE). By that I mean that the overall ambiance is more appealing (you can watch them prepare beef, make biscuits, and there are barrels of peanuts and accompanying peanut shells all over the floor) and you are served several courses. More.