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

Key Points

• TD Cowen raised Texas Roadhouse’s price target to $205 from $192 and kept a buy rating, implying about 12.5% upside from the current price.
• Analyst sentiment is mixed overall: the stock now has a consensus Hold rating with an average price target of $196.36, even as several firms recently nudged targets higher.
• Texas Roadhouse reported Q1 EPS of $1.87, beating estimates, while revenue grew 10.5% year over year to $1.63 billion; meanwhile, insiders sold shares in recent months and 94.82% of the stock is held by institutions.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective upped by equities research analysts at TD Cowen from $192.00 to $205.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. TD Cowen's price objective points to a potential upside of 12.51% from the company's current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a "neutral" rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Truist Financial lowered their price target on shares of Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating for the company in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $200.00 price target on shares of Texas Roadhouse in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Texas Roadhouse from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $196.36.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $182.20 on Wednesday. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $199.99. The firm has a fifty day moving average of $167.44 and a 200-day moving average of $173.35. The firm has a market capitalization of $11.98 billion, a P/E ratio of 29.11, a PEG ratio of 1.95 and a beta of 0.77. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that Texas Roadhouse will post 6.39 EPS for the current year.

Insider Activity

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 5,000 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 15,552 shares in the company, valued at $2,643,840. This represents a 24.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory N. Moore sold 1,700 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $171.59, for a total transaction of $291,703.00. The SEC filing for this sale provides additional information. Insiders sold a total of 18,217 shares of company stock worth $3,162,560 over the last ninety days. Insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new position in shares of Texas Roadhouse in the 4th quarter worth about $1,553,000. Capital World Investors lifted its position in shares of Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock worth $371,658,000 after buying an additional 1,908,033 shares during the last quarter. Caprock Group LLC bought a new position in shares of Texas Roadhouse in the 3rd quarter worth about $1,070,000. Cinctive Capital Management LP bought a new position in shares of Texas Roadhouse in the 3rd quarter worth about $18,915,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of Texas Roadhouse by 12.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 139,245 shares of the restaurant operator's stock worth $23,115,000 after buying an additional 15,734 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.