JPMorgan Chase & Co. Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $99.00

Texas Roadhouse (NASDAQ:TXRH) had its target price upped by analysts at JPMorgan Chase & Co. from $90.00 to $99.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 1.90% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Barclays raised their target price on shares of Texas Roadhouse from $79.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, February 25th. BTIG Research lifted their price target on shares of Texas Roadhouse from $92.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, March 22nd. Truist began coverage on shares of Texas Roadhouse in a report on Tuesday, January 5th. They set a “buy” rating and a $93.00 price target on the stock. Credit Suisse Group lifted their price target on shares of Texas Roadhouse from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Finally, The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a report on Tuesday, January 19th. They set a “neutral” rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $83.71.

NASDAQ TXRH opened at $97.15 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 124.55, a P/E/G ratio of 3.10 and a beta of 1.00. The firm’s 50 day simple moving average is $96.13 and its 200 day simple moving average is $82.41. Texas Roadhouse has a 1 year low of $41.68 and a 1 year high of $100.77.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 18th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.21). The firm had revenue of $637.99 million for the quarter, compared to analyst estimates of $678.05 million. Texas Roadhouse had a return on equity of 5.97% and a net margin of 2.19%. On average, equities research analysts forecast that Texas Roadhouse will post 0.68 earnings per share for the current year.

In related news, CEO Wayne Kent Taylor sold 70,000 shares of the business’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $98.40, for a total transaction of $6,888,000.00. Following the transaction, the chief executive officer now directly owns 3,036,295 shares in the company, valued at $298,771,428. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO S. Chris Jacobsen sold 838 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $90.00, for a total transaction of $75,420.00. Following the transaction, the chief marketing officer now owns 19,130 shares in the company, valued at $1,721,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,071 shares of company stock worth $10,386,397. 6.16% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its stake in Texas Roadhouse by 128.5% in the first quarter. Retirement Systems of Alabama now owns 194,517 shares of the restaurant operator’s stock valued at $18,662,000 after acquiring an additional 109,382 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Texas Roadhouse by 4.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the restaurant operator’s stock valued at $1,631,000 after acquiring an additional 700 shares during the last quarter. Scout Investments Inc. boosted its stake in Texas Roadhouse by 15.0% in the first quarter. Scout Investments Inc. now owns 383,929 shares of the restaurant operator’s stock valued at $36,834,000 after acquiring an additional 49,999 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in Texas Roadhouse in the fourth quarter valued at about $135,000. Finally, Norges Bank purchased a new position in Texas Roadhouse in the fourth quarter valued at about $55,676,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of December 29, 2020, it operated 537 domestic restaurants and 97 franchise restaurants.

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Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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