Royal Bank of Canada Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $165.00

Texas Roadhouse (NASDAQ:TXRH) had its target price boosted by research analysts at Royal Bank of Canada from $145.00 to $165.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 0.85% from the company’s current price.

Several other brokerages have also issued reports on TXRH. UBS Group increased their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. BMO Capital Markets boosted their price target on Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Jefferies Financial Group lifted their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $151.30.

Texas Roadhouse Price Performance

Shares of TXRH opened at $163.61 on Friday. The business’s 50-day moving average is $152.50 and its 200-day moving average is $129.78. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 33.12, a P/E/G ratio of 1.77 and a beta of 1.00. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Equities research analysts expect that Texas Roadhouse will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is owned by company insiders.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Texas Roadhouse in the fourth quarter worth $78,544,000. Balyasny Asset Management L.P. lifted its holdings in shares of Texas Roadhouse by 4,150.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after acquiring an additional 441,069 shares during the period. Invesco Ltd. boosted its position in shares of Texas Roadhouse by 40.7% during the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after acquiring an additional 370,627 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Texas Roadhouse by 60.9% in the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after acquiring an additional 294,425 shares during the period. Finally, Armistice Capital LLC acquired a new position in Texas Roadhouse in the fourth quarter worth about $28,724,000. 94.82% of the stock is currently owned by institutional investors.

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.