Truist Financial Forecasts Strong Price Appreciation for Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by research analysts at Truist Financial from $207.00 to $209.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price suggests a potential upside of 14.80% from the stock’s previous close.

Several other brokerages also recently issued reports on TXRH. Guggenheim upped their price target on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a research note on Wednesday. Stifel Nicolaus raised their price target on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. BMO Capital Markets upped their price objective on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $190.26.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $182.05 on Wednesday. The business has a 50 day moving average price of $190.67 and a 200 day moving average price of $178.45. The company has a market capitalization of $12.15 billion, a P/E ratio of 31.28, a PEG ratio of 1.59 and a beta of 1.01. Texas Roadhouse has a 1-year low of $115.48 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, research analysts expect that Texas Roadhouse will post 6.39 earnings per share for the current fiscal year.

Insider Transactions at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the sale, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now directly owns 3,532 shares in the company, valued at $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 bought and sold shares of TXRH. Marshall Wace LLP raised its stake in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares during the period. FMR LLC increased its stake in Texas Roadhouse by 81.6% during the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after buying an additional 403,720 shares during the period. Franklin Resources Inc. lifted its holdings in Texas Roadhouse by 76.0% in the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after buying an additional 385,998 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Texas Roadhouse in the 3rd quarter worth $66,609,000. Finally, Fiera Capital Corp purchased a new position in Texas Roadhouse in the 3rd quarter valued at about $41,670,000. Hedge funds and other 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.