JPMorgan Chase & Co. Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $188.00

Key Points

• JPMorgan Chase & Co. raised its price target on Texas Roadhouse from $182 to $188 while keeping a neutral rating, implying about 4.5% upside from the current share price.
• Other analysts remain mixed on the stock, with a consensus rating of Hold and an average price target of $193.73; recent target changes ranged from bullish to more cautious.
• Texas Roadhouse recently beat quarterly EPS estimates, reporting $1.87 per share versus $1.80 expected, while revenue rose 10.5% year over year to $1.63 billion.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $182.00 to $188.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the restaurant operator's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 4.53% from the company's current price.

TXRH has been the subject of several other reports. TD Cowen reduced their price target on Texas Roadhouse from $215.00 to $192.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Benchmark reiterated a "hold" rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. Royal Bank Of Canada lifted their price objective on shares of Texas Roadhouse from $175.00 to $180.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. BTIG Research reiterated a "buy" rating and issued a $200.00 price objective on shares of Texas Roadhouse in a research note on Friday, February 20th. Finally, Mizuho lifted their price objective on shares of Texas Roadhouse from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $193.73.

Texas Roadhouse Stock Performance

NASDAQ:TXRH traded up $0.55 during mid-day trading on Thursday, hitting $179.85. The stock had a trading volume of 449,249 shares, compared to its average volume of 1,059,833. Texas Roadhouse has a twelve month low of $153.82 and a twelve month high of $199.99. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.02 and a beta of 0.77. The company's 50 day simple moving average is $166.70 and its 200 day simple moving average is $172.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.45 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the business earned $1.70 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that Texas Roadhouse will post 6.38 earnings per share for the current year.

Insider Activity

In other Texas Roadhouse news, President Regina A. Tobin sold 4,450 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total transaction of $760,950.00. Following the sale, the president owned 13,778 shares of the company's stock, valued at approximately $2,356,038. The trade was a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hugh J. Carroll sold 988 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $170.96, for a total transaction of $168,908.48. Following the sale, the director directly owned 866 shares in the company, valued at approximately $148,051.36. The trade was a 53.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,878 shares of company stock valued at $2,924,071. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of Texas Roadhouse

A number of hedge funds have recently made changes to their positions in the company. Inceptionr LLC acquired a new stake in shares of Texas Roadhouse during the first quarter valued at about $1,375,000. Bank of Nova Scotia raised its stake in shares of Texas Roadhouse by 12.0% during the first quarter. Bank of Nova Scotia now owns 18,712 shares of the restaurant operator's stock valued at $3,090,000 after acquiring an additional 2,004 shares during the last quarter. Sei Investments Co. raised its stake in shares of Texas Roadhouse by 41.1% during the first quarter. Sei Investments Co. now owns 198,481 shares of the restaurant operator's stock valued at $32,778,000 after acquiring an additional 57,853 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Texas Roadhouse by 20.7% during the first quarter. Lido Advisors LLC now owns 1,924 shares of the restaurant operator's stock valued at $318,000 after acquiring an additional 330 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Texas Roadhouse by 0.3% during the first quarter. PNC Financial Services Group Inc. now owns 45,766 shares of the restaurant operator's stock valued at $7,558,000 after acquiring an additional 157 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

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