Texas Roadhouse, Inc. (NASDAQ:TXRH) Price Target Raised to $56.00
Texas Roadhouse, Inc. (NASDAQ:TXRH) had its target price lifted by equities researchers at Barclays PLC from $53.00 to $56.00 in a report issued on Tuesday, August 1st. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Barclays PLC’s price target would indicate a potential upside of 13.71% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. BMO Capital Markets raised Texas Roadhouse from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $58.00 in a research report on Thursday, June 22nd. BidaskClub downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Jefferies Group LLC reissued an “underperform” rating and set a $40.00 price objective (up from $38.00) on shares of Texas Roadhouse in a research report on Tuesday, May 2nd. Deutsche Bank AG reissued a “hold” rating and set a $53.00 price objective (up from $49.00) on shares of Texas Roadhouse in a research report on Monday, July 10th. Finally, Maxim Group reissued a “buy” rating and set a $52.00 price objective on shares of Texas Roadhouse in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $50.11.
Texas Roadhouse (NASDAQ TXRH) traded up 0.63% during trading on Tuesday, hitting $49.25. 328,273 shares of the company traded hands. The company’s 50 day moving average is $49.84 and its 200-day moving average is $47.26. Texas Roadhouse has a 52 week low of $37.23 and a 52 week high of $51.91. The stock has a market capitalization of $3.50 billion, a PE ratio of 29.65 and a beta of 0.54.
Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Monday, July 31st. The restaurant operator reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $566.30 million during the quarter, compared to the consensus estimate of $563.23 million. Texas Roadhouse had a return on equity of 16.49% and a net margin of 5.63%. Texas Roadhouse’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. Analysts predict that Texas Roadhouse will post $1.93 earnings per share for the current year.
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In related news, Director Kathy Widmer sold 5,200 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $48.97, for a total transaction of $254,644.00. Following the sale, the director now owns 13,750 shares of the company’s stock, valued at $673,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC increased its position in Texas Roadhouse by 22.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 2,072 shares of the restaurant operator’s stock valued at $106,000 after buying an additional 375 shares during the period. Creative Planning increased its position in Texas Roadhouse by 11.2% in the second quarter. Creative Planning now owns 2,223 shares of the restaurant operator’s stock valued at $113,000 after buying an additional 224 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Texas Roadhouse by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,612 shares of the restaurant operator’s stock valued at $133,000 after buying an additional 258 shares during the period. Advisor Group Inc. increased its position in Texas Roadhouse by 26.8% in the second quarter. Advisor Group Inc. now owns 2,808 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 593 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Texas Roadhouse by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,393 shares of the restaurant operator’s stock valued at $151,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 88.87% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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