Texas Roadhouse (NASDAQ:TXRH) Stock Price Expected to Rise, TD Cowen Analyst Says

Texas Roadhouse (NASDAQ:TXRH) had its price objective upped by TD Cowen from $205.00 to $230.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s target price would indicate a potential upside of 10.49% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Stephens raised their price target on Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a research note on Monday. Citigroup reduced their target price on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Stifel Nicolaus increased their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada raised Texas Roadhouse from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $180.00 to $210.00 in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $202.30.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $208.17 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $213.26. The firm has a market cap of $13.68 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79. The company’s 50 day moving average is $186.99 and its two-hundred day moving average is $178.70.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $1.86 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts expect that Texas Roadhouse will post 6.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Curtis Warfield sold 2,640 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $183.05, for a total transaction of $483,252.00. Following the completion of the sale, the director directly owned 5,361 shares in the company, valued at $981,331.05. This represents a 33.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the sale, the insider owned 10,326 shares of the company’s stock, valued at $1,841,538.84. This represents a 8.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,154 shares of company stock valued at $1,115,864 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC lifted its position in Texas Roadhouse by 98.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock worth $61,457,000 after acquiring an additional 183,422 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at approximately $977,000. Amica Mutual Insurance Co. bought a new stake in shares of Texas Roadhouse in the fourth quarter worth $989,000. Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after acquiring an additional 24,834 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Texas Roadhouse in the fourth quarter worth about $29,714,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

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.