Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $180.00 by Analysts at Wedbush

Texas Roadhouse (NASDAQ:TXRH) had its price target boosted by analysts at Wedbush from $170.00 to $180.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 10.02% from the stock’s current price. Wedbush also issued estimates for Texas Roadhouse’s Q2 2024 earnings at $1.54 EPS, Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Jefferies Financial Group lifted their price objective on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. UBS Group lifted their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 16th. Robert W. Baird upgraded shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Finally, Stephens assumed coverage on shares of Texas Roadhouse in a report on Friday, April 12th. They issued an “equal weight” rating and a $150.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $151.30.

Texas Roadhouse Price Performance

Shares of TXRH opened at $163.61 on Friday. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $170.39. The stock has a market cap of $10.93 billion, a PE ratio of 33.12, a P/E/G ratio of 1.71 and a beta of 1.00. The firm has a 50-day simple moving average of $152.50 and a two-hundred day simple moving average of $129.78.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Texas Roadhouse will post 5.77 earnings per share for the current fiscal year.

Insider Transactions at Texas Roadhouse

In other news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors have recently modified their holdings of the business. Operose Advisors LLC acquired a new position in shares of Texas Roadhouse in the 3rd quarter valued at $28,000. Rise Advisors LLC acquired a new position in shares of Texas Roadhouse in the 1st quarter valued at $32,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Texas Roadhouse by 454.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after acquiring an additional 200 shares during the period. Fifth Third Bancorp increased its holdings in shares of Texas Roadhouse by 35.8% in the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 125 shares during the period. Finally, TFC Financial Management Inc. increased its stake in Texas Roadhouse by 100.0% in the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 290 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

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.