Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $178.00

Texas Roadhouse (NASDAQ:TXRH) had its price target increased by analysts at Citigroup from $162.00 to $178.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target points to a potential upside of 13.22% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TXRH. Morgan Stanley raised their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Wedbush raised their target price on Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Robert W. Baird raised Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their target price for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Piper Sandler raised their target price on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Finally, UBS Group raised their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.76.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded up $0.34 during mid-day trading on Wednesday, hitting $157.21. The company’s stock had a trading volume of 315,395 shares, compared to its average volume of 784,820. The firm’s 50 day moving average is $150.15 and its 200 day moving average is $126.40. The company has a market cap of $10.51 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $158.54.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $0.89 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts forecast that Texas Roadhouse will post 5.75 EPS for the current year.

Insider Buying and Selling

In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now owns 13,397 shares of the company’s stock, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last 90 days. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently made changes to their positions in TXRH. Wellington Management Group LLP grew its stake in shares of Texas Roadhouse by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock worth $173,694,000 after purchasing an additional 29,506 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Texas Roadhouse by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock worth $154,869,000 after purchasing an additional 8,392 shares during the period. Invesco Ltd. grew its stake in shares of Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after purchasing an additional 370,627 shares during the period. Victory Capital Management Inc. grew its stake in shares of Texas Roadhouse by 26.3% during the third quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock worth $94,735,000 after purchasing an additional 205,064 shares during the period. Finally, Geneva Capital Management LLC grew its stake in Texas Roadhouse by 7.9% in the fourth quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after acquiring an additional 69,536 shares during the period. Institutional investors own 94.82% of the company’s stock.

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.