Royal Bank of Canada Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective decreased by analysts at Royal Bank of Canada from $200.00 to $180.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 7.10% from the stock’s previous close.

Several other brokerages have also issued reports on TXRH. Robert W. Baird raised their price target on shares of Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a report on Wednesday, January 8th. BMO Capital Markets raised their price objective on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Barclays cut their price objective on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Texas Roadhouse has an average rating of “Moderate Buy” and an average price target of $192.32.

Texas Roadhouse Trading Down 2.0 %

Shares of TXRH stock traded down $3.50 during trading hours on Friday, hitting $168.07. 1,461,135 shares of the company were exchanged, compared to its average volume of 1,037,060. The firm has a fifty day simple moving average of $179.58 and a 200 day simple moving average of $180.02. Texas Roadhouse has a 52-week low of $146.51 and a 52-week high of $206.04. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 1.25 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Sell-side analysts anticipate that Texas Roadhouse will post 6.4 EPS for the current year.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

Large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in Texas Roadhouse by 8,594.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after purchasing an additional 3,094 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Texas Roadhouse in the 3rd quarter worth $17,853,000. Victory Capital Management Inc. raised its position in Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock worth $11,962,000 after purchasing an additional 44,768 shares during the period. First Hawaiian Bank purchased a new position in Texas Roadhouse in the 4th quarter worth $1,554,000. Finally, Thrivent Financial for Lutherans raised its position in Texas Roadhouse by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 483,045 shares of the restaurant operator’s stock worth $85,306,000 after purchasing an additional 4,391 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, 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.