Truist Financial Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $207.00

Texas Roadhouse (NASDAQ:TXRH) had its target price raised by equities research analysts at Truist Financial from $202.00 to $207.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price points to a potential upside of 10.26% from the company’s previous close.

TXRH has been the topic of several other research reports. JPMorgan Chase & Co. decreased their target price on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Morgan Stanley lifted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird lifted their price objective on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. BTIG Research lifted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup lifted their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $182.50.

Texas Roadhouse Trading Up 3.8 %

Shares of TXRH stock traded up $6.83 during mid-day trading on Friday, reaching $187.73. The stock had a trading volume of 303,283 shares, compared to its average volume of 766,730. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 33.86, a PEG 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 $189.97. The business’s fifty day moving average is $172.00 and its 200-day moving average is $168.06.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.07). The company had revenue of $1.27 billion for 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 earnings per share. On average, analysts forecast that Texas Roadhouse will post 6.37 earnings per share for the current year.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Chatham Capital Group Inc. raised its holdings in shares of Texas Roadhouse by 11.5% in the first quarter. Chatham Capital Group Inc. now owns 23,120 shares of the restaurant operator’s stock valued at $3,571,000 after buying an additional 2,390 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Texas Roadhouse by 54.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after acquiring an additional 29,833 shares during the period. Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of Texas Roadhouse during the first quarter worth about $274,000. State of Michigan Retirement System increased its stake in shares of Texas Roadhouse by 2.5% during the first quarter. State of Michigan Retirement System now owns 16,378 shares of the restaurant operator’s stock worth $2,530,000 after acquiring an additional 400 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Texas Roadhouse by 32.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,338 shares of the restaurant operator’s stock worth $1,906,000 after buying an additional 3,026 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.