Texas Roadhouse (NASDAQ:TXRH) Given New $219.00 Price Target at Bank of America

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective boosted by Bank of America from $203.00 to $219.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the restaurant operator's stock. Bank of America's target price suggests a potential upside of 20.15% from the stock's previous close.

TXRH has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday. Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Guggenheim lifted their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Robert W. Baird set a $180.00 target price on shares of Texas Roadhouse and gave the stock an "outperform" rating in a research note on Monday, April 7th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $194.10.

Texas Roadhouse Trading Down 0.2%

Shares of TXRH traded down $0.31 on Friday, reaching $182.28. The company's stock had a trading volume of 49,244 shares, compared to its average volume of 933,747. Texas Roadhouse has a twelve month low of $148.73 and a twelve month high of $206.04. The stock has a market capitalization of $12.09 billion, a PE ratio of 28.09, a PEG ratio of 2.46 and a beta of 0.87. The firm has a fifty day moving average of $189.87 and a 200-day moving average of $178.82.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the company earned $1.69 EPS. The business's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Donna E. Epps sold 800 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the sale, the director owned 4,632 shares of the company's stock, valued at $863,960.64. This represents a 14.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory N. Moore sold 1,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the sale, the director directly owned 38,050 shares of the company's stock, valued at $7,138,941. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Poinciana Advisors Group LLC boosted its stake in Texas Roadhouse by 17.7% in the 2nd quarter. Poinciana Advisors Group LLC now owns 1,813 shares of the restaurant operator's stock worth $340,000 after purchasing an additional 272 shares during the period. Northwest Wealth Management LLC bought a new position in Texas Roadhouse in the 2nd quarter worth approximately $250,000. Janney Montgomery Scott LLC boosted its stake in Texas Roadhouse by 22.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,365 shares of the restaurant operator's stock worth $1,943,000 after purchasing an additional 1,866 shares during the period. Invesco LLC lifted its position in Texas Roadhouse by 42.0% in the second quarter. Invesco LLC now owns 1,997 shares of the restaurant operator's stock worth $374,000 after buying an additional 591 shares during the last quarter. Finally, Dakota Wealth Management lifted its position in Texas Roadhouse by 3.8% in the second quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator's stock worth $314,000 after buying an additional 61 shares during the last quarter. 94.82% of the stock is 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.

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