Royal Bank Of Canada Has Lowered Expectations for Texas Roadhouse (NASDAQ:TXRH) Stock Price

by · The Cerbat Gem

Texas Roadhouse (NASDAQ:TXRH – Get Free Report) had its price objective cut by equities researchers at Royal Bank Of Canada from $235.00 to $220.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 34.50% from the company’s current price.

TXRH has been the topic of several other research reports. Stephens increased their target price on Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, September 29th. Piper Sandler raised their price objective on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $235.00 target price on shares of Texas Roadhouse in a research note on Monday, August 3rd. Finally, Mizuho boosted their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.76.

Check Out Our Latest Analysis on TXRH

Texas Roadhouse Trading Up 2.9%

NASDAQ:TXRH opened at $163.57 on Monday. The firm has a 50-day simple moving average of $187.82 and a 200-day simple moving average of $179.61. Texas Roadhouse has a one year low of $153.82 and a one year high of $216.30. The firm has a market cap of $10.74 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. Equities analysts anticipate that Texas Roadhouse will post 6.61 EPS for the current fiscal year.

Insider Transactions at Texas Roadhouse

In related news, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total transaction of $132,593.50. Following the transaction, the director directly owned 2,883 shares in the company, valued at $588,103.17. The trade was a 18.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total value of $102,325.00. Following the transaction, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,970 shares of company stock worth $4,061,808. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Texas Roadhouse during the 2nd quarter worth approximately $1,273,173,000. Capital World Investors raised its holdings in shares of Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after buying an additional 300,405 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Texas Roadhouse by 8.4% during the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after buying an additional 119,803 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Texas Roadhouse by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after buying an additional 34,385 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Texas Roadhouse by 38.1% during the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock valued at $120,951,000 after buying an additional 202,241 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Company Profile

(Get Free Report)

Texas Roadhouse, Inc is a casual dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.

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