Alps Advisors Inc. Has $20.60 Million Stock Position in Texas Roadhouse, Inc. $TXRH

Alps Advisors Inc. increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 14.6% during the third quarter, HoldingsChannel reports. The fund owned 123,987 shares of the restaurant operator’s stock after acquiring an additional 15,771 shares during the quarter. Alps Advisors Inc.’s holdings in Texas Roadhouse were worth $20,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Insight Wealth Partners LLC increased its holdings in shares of Texas Roadhouse by 4.3% during the 2nd quarter. Insight Wealth Partners LLC now owns 1,855 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 76 shares during the period. NewEdge Advisors LLC grew its position in Texas Roadhouse by 3.1% during the second quarter. NewEdge Advisors LLC now owns 2,499 shares of the restaurant operator’s stock worth $468,000 after buying an additional 76 shares in the last quarter. Salomon & Ludwin LLC increased its stake in Texas Roadhouse by 37.2% during the third quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 81 shares during the period. Invesco LLC raised its holdings in Texas Roadhouse by 4.5% in the 3rd quarter. Invesco LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 89 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Texas Roadhouse by 5.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 1,999 shares of the restaurant operator’s stock worth $375,000 after acquiring an additional 97 shares during the period. 94.82% of the stock is owned by institutional investors.

Insider Transactions at Texas Roadhouse

In related news, Director Hugh J. Carroll sold 1,000 shares of the 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 sale, the director directly owned 1,854 shares in the company, valued at $310,118.58. This represents a 35.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,400 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total value of $238,000.00. Following the sale, the director directly owned 32,150 shares of the company’s stock, valued at $5,465,500. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 12,400 shares of company stock valued at $2,320,920. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

TXRH has been the topic of several recent research reports. Sanford C. Bernstein set a $185.00 price objective on Texas Roadhouse in a report on Wednesday, January 7th. BMO Capital Markets boosted their price target on shares of Texas Roadhouse from $155.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Stephens decreased their target price on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Finally, Truist Financial increased their price target on shares of Texas Roadhouse from $195.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.29.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $190.97 on Monday. The company’s fifty day moving average is $177.66 and its 200-day moving average is $173.54. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $199.99. The company has a market capitalization of $12.63 billion, a PE ratio of 29.20, a P/E/G ratio of 3.12 and a beta of 0.88.

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

Texas Roadhouse 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.