Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $145.00

Texas Roadhouse (NASDAQ:TXRH) had its price target lifted by investment analysts at BMO Capital Markets from $130.00 to $145.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ price objective points to a potential downside of 11.37% from the stock’s current price.

Several other brokerages also recently issued reports on TXRH. Northcoast Research downgraded shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on shares of Texas Roadhouse from $145.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Friday. Benchmark started coverage on shares of Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating on the stock. Citigroup raised their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler raised their price objective on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.30.

Texas Roadhouse Trading Up 3.6 %

NASDAQ:TXRH traded up $5.71 during midday trading on Friday, hitting $163.61. 1,640,835 shares of the company were exchanged, compared to its average volume of 821,386. The company has a fifty day simple moving average of $152.50 and a 200 day simple moving average of $129.54. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The company has a market capitalization of $10.93 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $1.28 EPS. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Texas Roadhouse will post 5.77 EPS for the current year.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’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 transaction of $739,500.00. Following the completion of the sale, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock worth $1,843,145 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in Texas Roadhouse during the 3rd quarter worth $28,000. Rise Advisors LLC acquired a new position in Texas Roadhouse during the 1st quarter worth $32,000. China Universal Asset Management Co. Ltd. grew its holdings in Texas Roadhouse by 454.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp grew its holdings in Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 125 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Texas Roadhouse by 100.0% in the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after buying an additional 290 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Company Profile

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.