Truist Financial Forecasts Strong Price Appreciation for Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse (NASDAQ:TXRH) had its price target boosted by research analysts at Truist Financial from $207.00 to $209.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target suggests a potential upside of 18.13% from the company’s current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a research report on Wednesday. Evercore ISI boosted their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Barclays raised their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Bank of America boosted their target price on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $190.26.

Texas Roadhouse Stock Down 2.4 %

TXRH stock traded down $4.35 during midday trading on Wednesday, reaching $176.92. The company’s stock had a trading volume of 154,647 shares, compared to its average volume of 605,828. The business’s 50-day simple moving average is $191.09 and its 200-day simple moving average is $178.40. The stock has a market cap of $11.80 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. Texas Roadhouse has a 52 week low of $115.48 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities analysts forecast that Texas Roadhouse will post 6.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares of the company’s stock, valued at $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

Large investors have recently modified their holdings of the stock. Marshall Wace LLP grew its stake in Texas Roadhouse by 128.9% in the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after buying an additional 430,814 shares during the last quarter. FMR LLC grew its position in shares of Texas Roadhouse by 81.6% in the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after purchasing an additional 403,720 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock valued at $157,375,000 after purchasing an additional 385,998 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Texas Roadhouse during the third quarter worth approximately $66,609,000. Finally, Fiera Capital Corp acquired a new stake in Texas Roadhouse during the 3rd quarter worth approximately $41,670,000. 94.82% of the stock is 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.