Truist Financial Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $181.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by equities research analysts at Truist Financial from $170.00 to $181.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target would suggest a potential upside of 10.63% from the stock’s previous close.

TXRH has been the topic of several other research reports. Citigroup boosted their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Stephens increased their price target on shares of Texas Roadhouse from $150.00 to $164.00 and gave the company an “equal weight” rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Robert W. Baird lifted their target price on shares of Texas Roadhouse from $178.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $151.09.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH traded up $5.71 during mid-day trading on Friday, reaching $163.61. 1,640,409 shares of the company traded hands, compared to its average volume of 821,386. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The firm has a market cap of $10.93 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The stock has a fifty day simple moving average of $152.20 and a 200-day simple moving average of $129.06.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $1.28 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts predict that Texas Roadhouse will post 5.77 EPS for the current fiscal year.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the sale, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the sale, the director now directly owns 4,142 shares in the company, valued at approximately $621,175.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,382 shares of company stock worth $1,843,145. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXRH. Commonwealth Equity Services LLC boosted its stake in shares of Texas Roadhouse by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock worth $630,000 after acquiring an additional 203 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Texas Roadhouse by 15.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock valued at $1,404,000 after purchasing an additional 1,977 shares during the last quarter. Advisor Partners II LLC purchased a new stake in Texas Roadhouse during the 3rd quarter valued at approximately $213,000. Park Avenue Securities LLC purchased a new position in shares of Texas Roadhouse during the 3rd quarter worth approximately $474,000. Finally, Inspire Investing LLC grew its holdings in shares of Texas Roadhouse by 12.8% in the 3rd quarter. Inspire Investing LLC now owns 13,018 shares of the restaurant operator’s stock worth $1,251,000 after acquiring an additional 1,477 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

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.