Royal Bank Of Canada Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective dropped by equities research analysts at Royal Bank Of Canada from $185.00 to $175.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 6.04% from the stock’s current price.

Several other research analysts have also recently weighed in on TXRH. Citigroup lifted their price target on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Truist Financial decreased their target price on Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Friday. Barclays cut their price target on Texas Roadhouse from $187.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday. Guggenheim restated a “buy” rating and issued a $210.00 price target on shares of Texas Roadhouse in a research report on Tuesday, September 16th. Finally, Evercore ISI downgraded Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price objective for the company. in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.21.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded up $4.30 on Friday, reaching $165.03. The stock had a trading volume of 2,595,523 shares, compared to its average volume of 1,127,015. The stock has a market cap of $10.97 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Texas Roadhouse has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a 50 day simple moving average of $167.76 and a 200 day simple moving average of $177.82.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 earnings per share. On average, equities research analysts anticipate that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the transaction, the director owned 34,550 shares of the company’s stock, valued at approximately $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $547,140.09. Following the transaction, the president directly owned 15,261 shares of the company’s stock, valued at $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,342 shares of company stock worth $1,443,704 in the last three months. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in shares of Texas Roadhouse by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 224,749 shares of the restaurant operator’s stock worth $37,450,000 after purchasing an additional 21,308 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Texas Roadhouse by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator’s stock valued at $458,000 after buying an additional 62 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Texas Roadhouse by 7.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 1,902 shares of the restaurant operator’s stock valued at $317,000 after buying an additional 137 shares in the last quarter. Alps Advisors Inc. increased its stake in Texas Roadhouse by 7.5% in the 1st quarter. Alps Advisors Inc. now owns 108,946 shares of the restaurant operator’s stock worth $18,154,000 after acquiring an additional 7,576 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Texas Roadhouse by 21.6% during the 1st quarter. Cerity Partners LLC now owns 61,673 shares of the restaurant operator’s stock worth $10,277,000 after acquiring an additional 10,958 shares in the last quarter. 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.