JPMorgan Chase & Co. Has Lowered Expectations for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price target cut by investment analysts at JPMorgan Chase & Co. from $200.00 to $182.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.91% from the stock’s current price.

A number of other research analysts have also recently issued reports on TXRH. Citigroup boosted their price objective on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Guggenheim reaffirmed a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research report on Tuesday, September 16th. Bank of America boosted their price target on Texas Roadhouse from $203.00 to $219.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Stifel Nicolaus increased their price target on Texas Roadhouse from $180.00 to $188.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group cut their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.00.

Texas Roadhouse Trading Up 0.4%

Shares of NASDAQ TXRH opened at $167.11 on Tuesday. The business has a 50-day moving average price of $171.41 and a two-hundred day moving average price of $177.12. The firm has a market capitalization of $11.10 billion, a PE ratio of 25.51, a PEG ratio of 2.28 and a beta of 0.82. Texas Roadhouse has a one year low of $148.73 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company earned $1.79 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Buying and Selling

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the sale, the president directly owned 15,261 shares in the company, valued at approximately $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock valued at $1,443,704 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in Texas Roadhouse by 85.5% during the first quarter. UMB Bank n.a. now owns 803 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 370 shares during the period. Miracle Mile Advisors LLC increased its holdings in Texas Roadhouse by 10.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,243 shares of the restaurant operator’s stock worth $374,000 after acquiring an additional 212 shares during the last quarter. Park Avenue Securities LLC raised its stake in Texas Roadhouse by 11.6% in the 1st quarter. Park Avenue Securities LLC now owns 5,854 shares of the restaurant operator’s stock valued at $976,000 after acquiring an additional 607 shares during the period. Portside Wealth Group LLC bought a new position in Texas Roadhouse during the first quarter worth about $256,000. Finally, Pallas Capital Advisors LLC increased its stake in shares of Texas Roadhouse by 85.3% in the first quarter. Pallas Capital Advisors LLC now owns 9,870 shares of the restaurant operator’s stock worth $1,645,000 after purchasing an additional 4,544 shares in the last quarter. 94.82% of the stock is owned by 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.