Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $227.00

Texas Roadhouse (NASDAQ:TXRH) had its price target boosted by equities research analysts at Bank of America from $225.00 to $227.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s target price would suggest a potential upside of 18.36% from the company’s current price.

Other equities analysts have also issued reports about the company. Wells Fargo & Company upped their target price on Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Piper Sandler increased their price target on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. TD Cowen dropped their price target on Texas Roadhouse from $230.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, October 16th. JPMorgan Chase & Co. cut their price objective on Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Finally, Royal Bank Of Canada reduced their price objective on Texas Roadhouse from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Moderate Buy” and an average target price of $208.43.

Texas Roadhouse Trading Down 2.4%

Shares of TXRH stock opened at $191.79 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.13 and a beta of 0.81. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a 50-day simple moving average of $173.05 and a two-hundred day simple moving average of $179.11.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, November 5th. The restaurant operator reported $1.36 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business earned $1.25 EPS. Texas Roadhouse’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse will post 6.48 EPS for the current fiscal year.

Insider Activity at Texas Roadhouse

In related news, Director Gregory Moore sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. The trade was a 10.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gerald Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the sale, the chief executive officer directly owned 80,970 shares in the company, valued at $16,369,704.90. This trade represents a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 19,970 shares of company stock worth $4,061,808 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several hedge funds have recently made changes to their positions in TXRH. BlackRock Inc. purchased a new position in shares of Texas Roadhouse during the 2nd quarter valued at $1,273,173,000. Wellington Management Group LLP increased its holdings in Texas Roadhouse by 8.4% in the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after acquiring an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Texas Roadhouse by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after acquiring an additional 34,385 shares during the last quarter. Bessemer Group Inc. increased its holdings in Texas Roadhouse by 38.1% in the 1st quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock worth $120,951,000 after acquiring an additional 202,241 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Texas Roadhouse in the 2nd quarter valued at about $113,993,000. 94.82% of the stock is currently owned by institutional investors.

Key Stories Impacting Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Comparable-store sales increased 4.3%, and revenue rose 9.5% year over year to $1.57 billion. The sales growth signals continued demand, although revenue was slightly below the $1.58 billion consensus. Texas Roadhouse: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company declared a quarterly dividend of $0.75 per share, offering a direct return to shareholders. Third-quarter results and dividend announcement
• Neutral Sentiment: Management characterized results as strong despite softer traffic. That may temper the sales-growth signal, as traffic trends remain an area for investors to monitor. Results despite softer traffic
• Negative Sentiment: Quarterly EPS was $1.36, below analysts’ estimates of roughly $1.46–$1.49. Although earnings were up from $1.25 a year earlier, the miss could weigh on the stock. Q3 earnings and revenue estimates

Texas Roadhouse Company Profile

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.