JPMorgan Chase & Co. Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $188.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective boosted by analysts at JPMorgan Chase & Co. from $182.00 to $188.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 4.53% from the stock’s current price.

Other analysts also recently issued reports about the company. Benchmark restated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. Truist Financial cut their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Stifel Nicolaus upped their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and set a $201.00 price target on shares of Texas Roadhouse in a report on Friday, May 8th. Finally, Piper Sandler boosted their price target on shares of Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $193.73.

Texas Roadhouse Trading Up 0.3%

Shares of NASDAQ:TXRH traded up $0.55 during midday trading on Thursday, reaching $179.85. The company’s stock had a trading volume of 449,249 shares, compared to its average volume of 1,059,833. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.45 and a current ratio of 0.46. The firm has a 50 day moving average price of $166.70 and a two-hundred day moving average price of $172.72. Texas Roadhouse has a fifty-two week low of $153.82 and a fifty-two week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. Texas Roadhouse’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. As a group, analysts forecast that Texas Roadhouse will post 6.38 earnings per share for the current year.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 4,450 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the transaction, the president directly owned 13,778 shares of the company’s stock, valued at $2,356,038. This trade represents a 24.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hugh J. Carroll sold 988 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $170.96, for a total transaction of $168,908.48. Following the completion of the transaction, the director directly owned 866 shares of the company’s stock, valued at approximately $148,051.36. The trade was a 53.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,878 shares of company stock worth $2,924,071. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Texas Roadhouse

Several institutional investors and hedge funds have recently modified their holdings of TXRH. Inceptionr LLC purchased a new position in shares of Texas Roadhouse during the first quarter worth about $1,375,000. Bank of Nova Scotia grew its holdings in shares of Texas Roadhouse by 12.0% during the first quarter. Bank of Nova Scotia now owns 18,712 shares of the restaurant operator’s stock worth $3,090,000 after purchasing an additional 2,004 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Texas Roadhouse by 41.1% in the 1st quarter. Sei Investments Co. now owns 198,481 shares of the restaurant operator’s stock worth $32,778,000 after buying an additional 57,853 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of Texas Roadhouse by 20.7% in the 1st quarter. Lido Advisors LLC now owns 1,924 shares of the restaurant operator’s stock worth $318,000 after buying an additional 330 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Texas Roadhouse by 0.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 45,766 shares of the restaurant operator’s stock worth $7,558,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.