Texas Roadhouse, Inc. (NASDAQ:TXRH) Sees Significant Growth in Short Interest

Texas Roadhouse, Inc. (NASDAQ:TXRH) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 2,110,000 shares, a growth of 19.9% from the January 15th total of 1,760,000 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily volume of 769,300 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a report on Monday, October 28th. Bank of America lifted their price target on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $200.00 price target on shares of Texas Roadhouse in a report on Thursday, January 16th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.83.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 1,370 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,794,600. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

A number of large investors have recently modified their holdings of TXRH. True Wealth Design LLC purchased a new position in shares of Texas Roadhouse during the 3rd quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter valued at approximately $30,000. PSI Advisors LLC increased its stake in Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Coppell Advisory Solutions LLC increased its stake in Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 71 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter valued at approximately $36,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Trading Up 0.2 %

Shares of TXRH stock opened at $171.70 on Monday. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The stock has a 50 day simple moving average of $181.04 and a 200-day simple moving average of $180.05. Texas Roadhouse has a 12-month low of $132.28 and a 12-month high of $206.04.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.