Texas Roadhouse (NASDAQ:TXRH) Stock Price Target Raised at Mizuho

Key Points

• Mizuho raised Texas Roadhouse’s price target to $220 from $190 while maintaining an “outperform” rating, implying approximately 20.24% upside from the current price.
• Analyst sentiment remains positive overall, with Texas Roadhouse carrying a “Moderate Buy” consensus rating and an average price target of $206.32.
• The company’s latest quarterly results slightly exceeded expectations, with $1.85 adjusted EPS and $1.68 billion in revenue, up 11.1% year over year; however, insiders sold nearly 20,000 shares worth about $4.06 million over the past three months.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective increased by research analysts at Mizuho from $190.00 to $220.00 in a report issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the restaurant operator's stock. Mizuho's target price indicates a potential upside of 20.24% from the stock's current price.

TXRH has been the subject of a number of other reports. Benchmark upgraded Texas Roadhouse from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Seaport Research Partners assumed coverage on Texas Roadhouse in a research report on Wednesday, September 16th. They set a "buy" rating and a $195.00 target price on the stock. Weiss Ratings upgraded Texas Roadhouse from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, September 9th. Stephens upgraded Texas Roadhouse from an "equal weight" rating to an "overweight" rating and set a $205.00 price target on the stock in a report on Thursday, October 15th. Finally, Piper Sandler raised their price objective on shares of Texas Roadhouse from $192.00 to $208.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Texas Roadhouse currently has an average rating of "Moderate Buy" and an average price target of $206.32.

Texas Roadhouse Trading Up 4.7%

NASDAQ TXRH opened at $182.96 on Friday. The firm has a market capitalization of $12.01 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80. The business's 50-day moving average price is $174.57 and its two-hundred day moving average price is $179.17. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse has a 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $1.86 EPS. The company's revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Texas Roadhouse will post 6.48 EPS for the current year.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Donna E. Epps sold 820 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the sale, the director owned 4,042 shares of the company's stock, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lloyd Marshall sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the sale, the insider directly owned 9,826 shares of the company's stock, valued at $2,010,890.90. This trade represents a 4.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,970 shares of company stock worth $4,061,808 over the last three months. Insiders own 0.50% of the company's stock.

Institutional Trading of Texas Roadhouse

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Texas Roadhouse in the second quarter valued at about $1,273,173,000. Wellington Management Group LLP boosted its holdings in Texas Roadhouse by 8.4% during the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator's stock worth $297,920,000 after purchasing an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Texas Roadhouse by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator's stock worth $142,670,000 after purchasing an additional 34,385 shares during the last quarter. Bessemer Group Inc. grew its position 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 purchasing an additional 202,241 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Texas Roadhouse in the 2nd quarter worth about $113,993,000. Institutional investors and hedge funds own 94.82% of the company's stock.

About Texas Roadhouse

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.

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