Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $205.00

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price target lifted by stock analysts at Morgan Stanley from $200.00 to $205.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the restaurant operator's stock. Morgan Stanley's price objective would indicate a potential upside of 7.78% from the company's current price.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Wedbush increased their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Guggenheim raised their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday. Truist Financial set a $212.00 price target on Texas Roadhouse and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, UBS Group raised their price target on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.09.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH traded up $2.11 during trading on Monday, hitting $190.20. 43,177 shares of the company's stock were exchanged, compared to its average volume of 933,879. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.52 and a beta of 0.87. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04. The business's 50-day simple moving average is $188.81 and its 200 day simple moving average is $178.68.

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

Insider Buying and Selling

In other news, Director Donna E. Epps sold 800 shares of the firm'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 in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory N. Moore sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total transaction of $187,620.00. Following the sale, the director owned 38,050 shares of the company's stock, valued at approximately $7,138,941. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently bought and sold shares of the business. Axiom Investors LLC DE lifted its position in shares of Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Texas Roadhouse by 209.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after buying an additional 1,089,256 shares during the last quarter. Norges Bank purchased a new stake in Texas Roadhouse during the fourth quarter valued at about $155,239,000. Congress Asset Management Co. lifted its holdings in shares of Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after buying an additional 460,537 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Texas Roadhouse by 54.3% in the first quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock worth $209,840,000 after buying an additional 443,767 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

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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