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

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by investment analysts at Barclays from $170.00 to $185.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price target would suggest a potential upside of 2.45% from the stock’s current price.

A number of other equities analysts also recently weighed in on TXRH. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a research note on Monday, November 10th. Royal Bank Of Canada dropped their price target on Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Wells Fargo & Company upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Wednesday, December 17th. The Goldman Sachs Group decreased their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Finally, Mizuho upgraded Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $180.57 on Wednesday. The company has a fifty day moving average price of $169.32 and a 200-day moving average price of $173.52. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.85 and a beta of 0.89. Texas Roadhouse has a 1 year low of $148.73 and a 1 year high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Transactions at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total transaction of $238,000.00. Following the sale, the director directly owned 32,150 shares in the company, valued at approximately $5,465,500. This represents a 4.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hugh J. Carroll sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the transaction, the director directly owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. This trade represents a 35.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors have recently made changes to their positions in TXRH. Wealth Enhancement Advisory Services LLC grew its position in shares of Texas Roadhouse by 24.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,741 shares of the restaurant operator’s stock valued at $5,303,000 after purchasing an additional 5,904 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Texas Roadhouse by 31.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,928 shares of the restaurant operator’s stock worth $510,000 after purchasing an additional 694 shares during the period. Maridea Wealth Management LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at about $327,000. Harbor Investment Advisory LLC grew its holdings in Texas Roadhouse by 9.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 15,660 shares of the restaurant operator’s stock valued at $2,600,000 after buying an additional 1,377 shares in the last quarter. Finally, Red Spruce Capital LLC increased its position in shares of Texas Roadhouse by 2.1% during the fourth quarter. Red Spruce Capital LLC now owns 21,800 shares of the restaurant operator’s stock valued at $3,619,000 after buying an additional 452 shares during the period. Hedge funds and other institutional investors 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.