Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $220.00

Key Points

• BTIG Research raised Texas Roadhouse’s price target from $200 to $220 while maintaining a “buy” rating, implying 5.68% upside from the prior close. The analyst consensus remains “Hold,” with an average target of $202.30.
• Texas Roadhouse’s latest quarter exceeded expectations, with EPS of $1.85 versus $1.83 estimated and revenue of $1.68 billion, up 11.1% year over year.
• The stock opened at $208.17, near its 52-week high, while institutional investors own 94.82% of shares. Insiders have sold 6,154 shares worth approximately $1.12 million over the past 90 days.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price target upped by BTIG Research from $200.00 to $220.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. BTIG Research's target price suggests a potential upside of 5.68% from the company's previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley reiterated an "overweight" rating and set a $201.00 target price on shares of Texas Roadhouse in a research note on Friday, May 8th. Stifel Nicolaus boosted their price target on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada raised Texas Roadhouse from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $180.00 to $210.00 in a report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $235.00 price objective on shares of Texas Roadhouse in a research report on Monday. Finally, Wells Fargo & Company lifted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $202.30.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $208.17 on Friday. Texas Roadhouse has a 52 week low of $153.82 and a 52 week high of $213.26. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.31 and a beta of 0.79. The company has a 50-day simple moving average of $186.99 and a 200 day simple moving average of $178.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. On average, sell-side analysts predict that Texas Roadhouse will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, insider Christopher C. Colson sold 499 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the transaction, the insider directly owned 14,500 shares of the company's stock, valued at $2,598,690. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the transaction, the general counsel directly owned 860 shares in the company, valued at $165,575.80. This trade represents a 33.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,154 shares of company stock valued at $1,115,864 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Texas Roadhouse in the second quarter valued at approximately $66,000. OneDigital Investment Advisors LLC bought a new stake in Texas Roadhouse during the 2nd quarter worth approximately $377,000. Global Retirement Partners LLC bought a new stake in shares of Texas Roadhouse in the second quarter worth $547,000. Bank of New York Mellon Corp acquired a new position in Texas Roadhouse during the 2nd quarter worth about $95,158,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Texas Roadhouse during the second quarter worth about $1,812,000. 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source