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

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

Several other equities research analysts have also recently issued reports on the company. Piper Sandler boosted their price objective on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. UBS Group boosted their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Robert W. Baird upgraded shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $175.00 in a research report on Wednesday, March 13th. Stephens assumed coverage on shares of Texas Roadhouse in a research report on Friday, April 12th. They set an “equal weight” rating and a $150.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a research 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 stock. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $138.76.

Texas Roadhouse Trading Up 0.2 %

Shares of NASDAQ:TXRH traded up $0.34 during trading on Wednesday, reaching $157.21. 315,395 shares of the stock were exchanged, compared to its average volume of 784,820. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $158.54. The firm has a market cap of $10.51 billion, a PE ratio of 34.76, a PEG ratio of 1.67 and a beta of 0.99. The stock has a 50-day moving average price of $150.15 and a 200-day moving average price of $126.40.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. On average, sell-side analysts expect that Texas Roadhouse will post 5.75 earnings per share for the current fiscal year.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,064 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 over the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently made changes to their positions in TXRH. Rise Advisors LLC bought a new position in Texas Roadhouse in the 1st quarter valued at about $32,000. Operose Advisors LLC bought a new position in Texas Roadhouse in the 3rd quarter valued at about $28,000. Fifth Third Bancorp lifted its position in Texas Roadhouse by 35.8% in the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 125 shares in the last quarter. TFC Financial Management Inc. increased its stake in Texas Roadhouse by 100.0% in the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 290 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Texas Roadhouse in the 4th quarter valued at about $81,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

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.