Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $230.00 at TD Cowen

Key Points

• TD Cowen raised its Texas Roadhouse price target to $230 from $205 and maintained a “buy” rating, implying approximately 10.5% upside from the previous close.
• Analyst sentiment remains mixed: 10 analysts rate the stock a Buy and 13 a Hold, producing an average rating of “Hold” and an average price target of $202.30.
• Texas Roadhouse recently exceeded quarterly expectations, reporting $1.85 in EPS versus $1.83 expected and $1.68 billion in revenue, up 11.1% year over year. The stock opened at $208.17, near its 12-month high of $213.26.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price target boosted by analysts at TD Cowen from $205.00 to $230.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the restaurant operator's stock. TD Cowen's price target would indicate a potential upside of 10.49% from the company's previous close.

Several other analysts have also recently commented on the company. Stifel Nicolaus boosted their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada upgraded Texas Roadhouse from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $180.00 to $210.00 in a report on Friday, May 15th. UBS Group lifted their target price on shares of Texas Roadhouse from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday. Citigroup dropped their target price on shares of Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $201.00 price target on shares of Texas Roadhouse in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Texas Roadhouse currently has an average rating of "Hold" and an average target price of $202.30.

Texas Roadhouse Trading Down 0.2%

TXRH stock opened at $208.17 on Friday. Texas Roadhouse has a 12-month low of $153.82 and a 12-month high of $213.26. The business's 50-day moving average is $186.99 and its 200 day moving average is $178.70. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.31 and a beta of 0.79.

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

Insider Buying and Selling

In other news, Director Gregory N. Moore sold 1,250 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total value of $222,675.00. Following the completion of the sale, the director owned 30,900 shares of the company's stock, valued at $5,504,526. This represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel owned 860 shares of the company's stock, valued at $165,575.80. This represents a 33.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,154 shares of company stock worth $1,115,864 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. acquired a new position in Texas Roadhouse during the third quarter worth $157,310,000. Wellington Management Group LLP grew its stake in shares of Texas Roadhouse by 228.4% in the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock valued at $220,623,000 after buying an additional 924,306 shares in the last quarter. Norges Bank acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at $145,734,000. Steadfast Capital Management LP raised its holdings in shares of Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after buying an additional 635,178 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Texas Roadhouse by 27.4% in the 4th quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator's stock valued at $443,901,000 after buying an additional 575,685 shares during the period. 94.82% of the stock is owned by hedge funds and other 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.

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