Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $205.00

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by investment analysts at Morgan Stanley from $200.00 to $205.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective would indicate a potential upside of 13.32% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Bank of America lifted their price target on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup boosted their price target on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and set a $190.00 price target on shares of Texas Roadhouse in a report on Tuesday, September 24th. Truist Financial lifted their price objective on shares of Texas Roadhouse from $196.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company increased their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $181.90.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $180.90 on Friday. The firm has a market capitalization of $12.06 billion, a PE ratio of 32.83, a P/E/G ratio of 1.61 and a beta of 0.99. Texas Roadhouse has a 1-year low of $93.79 and a 1-year high of $184.19. The business’s fifty day moving average price is $172.00 and its two-hundred day moving average price is $168.06.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. Equities research analysts expect that Texas Roadhouse will post 6.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Texas Roadhouse by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after buying an additional 53,419 shares during the period. AQR Capital Management LLC increased its position in shares of Texas Roadhouse by 22.3% in the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after acquiring an additional 165,738 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after acquiring an additional 430,814 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Texas Roadhouse by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Texas Roadhouse by 25.0% in the 2nd quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after acquiring an additional 116,721 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.