Texas Roadhouse (NASDAQ:TXRH) Given New $176.00 Price Target at Citigroup

Key Points

• Citigroup cut its price target on Texas Roadhouse (NASDAQ:TXRH) from $184 to $176 and maintained a "neutral" rating, implying roughly a 10.33% upside from the stock's mid-day price of $159.52.
• Texas Roadhouse's latest quarter missed expectations, reporting $1.28 EPS versus $1.53 expected and $1.48B in revenue versus a $1.50B consensus, with EPS down from $1.73 a year earlier.
• Insiders have been net sellers—12,988 shares (~$2.22M) sold over the last 90 days—while analysts' consensus is a Moderate Buy with an average price target of $195.14 and institutions holding 94.82% of the stock.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective dropped by stock analysts at Citigroup from $184.00 to $176.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the restaurant operator's stock. Citigroup's target price points to a potential upside of 10.33% from the company's current price.

TXRH has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft set a $195.00 target price on shares of Texas Roadhouse in a report on Wednesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Benchmark restated a "hold" rating on shares of Texas Roadhouse in a research report on Monday, February 23rd. KeyCorp restated a "sector weight" rating on shares of Texas Roadhouse in a research report on Friday, February 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and an average price target of $195.14.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded down $0.93 during mid-day trading on Friday, reaching $159.52. The company's stock had a trading volume of 701,259 shares, compared to its average volume of 992,354. Texas Roadhouse has a 1-year low of $156.00 and a 1-year high of $199.99. The company has a market cap of $10.52 billion, a P/E ratio of 26.20, a PEG ratio of 1.76 and a beta of 0.88. The firm's 50-day moving average is $170.47 and its two-hundred day moving average is $173.18.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Texas Roadhouse will post 6.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director Donna E. Epps sold 850 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $172.45, for a total value of $146,582.50. Following the sale, the director directly owned 4,892 shares in the company, valued at $843,625.40. This trade represents a 14.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $170.00, for a total transaction of $850,000.00. Following the completion of the sale, the chief technology officer owned 15,552 shares in the company, valued at $2,643,840. This represents a 24.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,988 shares of company stock worth $2,218,144 over the last ninety days. Company 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 stock. Evergreen Capital Management LLC raised its holdings in Texas Roadhouse by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator's stock worth $605,000 after buying an additional 60 shares during the period. &PARTNERS lifted its holdings in shares of Texas Roadhouse by 3.5% in the fourth quarter. &PARTNERS now owns 1,820 shares of the restaurant operator's stock valued at $302,000 after purchasing an additional 61 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Texas Roadhouse by 11.6% in the fourth quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator's stock valued at $107,000 after purchasing an additional 67 shares in the last quarter. Beacon Investment Advisors LLC lifted its holdings in shares of Texas Roadhouse by 1.4% in the fourth quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator's stock valued at $886,000 after purchasing an additional 72 shares in the last quarter. Finally, Compound Planning Inc. grew its holdings in shares of Texas Roadhouse by 5.6% during the fourth quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator's stock worth $234,000 after buying an additional 75 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

About Texas Roadhouse

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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