Royal Bank Of Canada Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective reduced by equities researchers at Royal Bank Of Canada from $220.00 to $215.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada‘s target price suggests a potential upside of 16.09% from the company’s previous close.

Several other research analysts have also issued reports on TXRH. Piper Sandler increased their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Seaport Research Partners assumed coverage on shares of Texas Roadhouse in a research note on Wednesday, September 16th. They issued a “buy” rating and a $195.00 price target for the company. Evercore set a $220.00 price objective on shares of Texas Roadhouse in a report on Friday, September 25th. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Finally, Barclays cut shares of Texas Roadhouse from an “equal weight” rating to a “cautious” rating in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.78.

Texas Roadhouse Trading Down 3.4%

TXRH traded down $6.58 during trading on Friday, hitting $185.21. The company’s stock had a trading volume of 914,717 shares, compared to its average volume of 1,086,894. Texas Roadhouse has a twelve month low of $153.82 and a twelve month high of $216.30. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $173.05 and its 200-day moving average price is $179.11. The firm has a market capitalization of $12.16 billion, a P/E ratio of 29.69, a PEG ratio of 2.13 and a beta of 0.81.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.10). The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. Texas Roadhouse’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Analysts anticipate that Texas Roadhouse will post 6.48 EPS for the current year.

Insider Activity at Texas Roadhouse

In other news, Director Gregory Moore sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares of the company’s stock, valued at $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hugh Carroll sold 650 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director owned 2,883 shares in the company, valued at $588,103.17. This represents a 18.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TXRH. Basecamp Wealth Advisors LLC grew its holdings in Texas Roadhouse by 5,033.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Signature Equity Partners LLC raised its position in Texas Roadhouse by 906.2% in the 3rd quarter. Signature Equity Partners LLC now owns 161 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 145 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in Texas Roadhouse in the 2nd quarter valued at $32,000. Coppell Advisory Solutions LLC bought a new position in Texas Roadhouse during the 2nd quarter valued at $38,000. Finally, Western Wealth Management LLC bought a new position in Texas Roadhouse during the 1st quarter valued at $47,000. Institutional investors own 94.82% of the company’s stock.

Key Headlines Impacting Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Bank of America raised its price target to $227 from $225 and kept a Buy rating; TD Cowen raised its target to $213 from $195 and also rated the stock Buy. Bank of America analyst update TD Cowen analyst update
• Positive Sentiment: Texas Roadhouse reported 4.3% same-store sales growth and 9.5% year-over-year revenue growth in the third quarter, to $1.57 billion. It also declared a quarterly dividend of $0.75 per share. Third-quarter takeaways Company results and dividend announcement
• Neutral Sentiment: Wells Fargo cut its target to $220 from $230 but maintained Overweight; Morgan Stanley lowered its target to $218 from $221 while retaining Buy. The target cuts temper, but do not reverse, their positive ratings. Morgan Stanley rating update
• Negative Sentiment: Third-quarter EPS of $1.36 missed analyst expectations of $1.46, while revenue of $1.57 billion was slightly below the $1.58 billion consensus. Reports also noted softer traffic, raising concerns despite comparable-sales growth. Quarterly earnings results

About Texas Roadhouse

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.