Robert W. Baird Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $182.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective raised by Robert W. Baird from $178.00 to $182.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Robert W. Baird’s price objective suggests a potential upside of 11.24% from the stock’s previous close.

Several other brokerages have also weighed in on TXRH. Citigroup raised their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Northcoast Research downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. BMO Capital Markets raised their price objective on Texas Roadhouse from $110.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of Texas Roadhouse from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler upped their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $151.30.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $163.61 on Friday. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39. The business’s 50-day simple moving average is $152.50 and its 200 day simple moving average is $129.78.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. On average, equities research analysts predict that Texas Roadhouse will post 5.9 EPS for the current year.

Insider Activity

In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total value of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now owns 8,500 shares in the company, valued at $1,266,925. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is owned by company insiders.

Institutional Trading of Texas Roadhouse

Several hedge funds and other institutional investors have recently modified their holdings of TXRH. Commonwealth Equity Services LLC boosted its position in shares of Texas Roadhouse by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock worth $630,000 after buying an additional 203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Texas Roadhouse by 15.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock valued at $1,404,000 after purchasing an additional 1,977 shares during the last quarter. Advisor Partners II LLC acquired a new stake in Texas Roadhouse during the third quarter valued at $213,000. Park Avenue Securities LLC acquired a new stake in Texas Roadhouse during the third quarter valued at $474,000. Finally, Inspire Investing LLC boosted its position in Texas Roadhouse by 12.8% during the third quarter. Inspire Investing LLC now owns 13,018 shares of the restaurant operator’s stock valued at $1,251,000 after purchasing an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 94.82% 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. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.