Texas Roadhouse (NASDAQ:TXRH) Price Target Lowered to $180.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has lowered its price target for Texas Roadhouse from $200.00 to $180.00, maintaining a "neutral" rating on the stock.
• While Texas Roadhouse reported a $1.86 EPS for the last quarter, this was below the estimated $1.95 EPS, though revenue was up 12.7% year-over-year.
• Overall, analysts have a consensus target price of $196.10 for the company's stock, with a mix of ratings including one Strong Buy, ten Buy, and eleven Hold ratings.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its target price reduced by analysts at The Goldman Sachs Group from $200.00 to $180.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. The Goldman Sachs Group's target price suggests a potential upside of 11.48% from the company's previous close.

TXRH has been the subject of several other reports. Citigroup lifted their price target on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. UBS Group boosted their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, June 6th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a "buy" rating in a report on Wednesday, July 2nd. Stephens raised their price target on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Barclays upped their price target on Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $196.10.

Texas Roadhouse Stock Performance

Texas Roadhouse stock traded down $4.69 during trading hours on Wednesday, reaching $161.46. 510,697 shares of the stock were exchanged, compared to its average volume of 1,121,874. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04. The firm's 50 day moving average is $173.11 and its 200 day moving average is $177.20. The stock has a market cap of $10.73 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.28 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.79 earnings per share. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts expect that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Transactions at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares in the company, valued at $2,648,241.33. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the sale, the director owned 34,550 shares in the company, valued at $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,342 shares of company stock valued at $1,443,704. Corporate insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Texas Roadhouse

Large investors have recently modified their holdings of the stock. Caldwell Trust Co bought a new stake in shares of Texas Roadhouse during the second quarter worth $28,000. TT Capital Management LLC acquired a new position in Texas Roadhouse during the 2nd quarter valued at about $623,000. Advisory Services Network LLC boosted its stake in shares of Texas Roadhouse by 0.4% in the 2nd quarter. Advisory Services Network LLC now owns 29,683 shares of the restaurant operator's stock valued at $5,495,000 after purchasing an additional 108 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Texas Roadhouse during the second quarter worth approximately $502,000. Finally, Winslow Asset Management Inc. lifted its holdings in Texas Roadhouse by 16.6% in the second quarter. Winslow Asset Management Inc. now owns 2,070 shares of the restaurant operator's stock valued at $388,000 after buying an additional 295 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

About Texas Roadhouse

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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