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

Texas Roadhouse (NASDAQ:TXRH) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $202.00 to $200.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 26.05% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a research note on Friday, August 7th. UBS Group raised their target price on Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research report on Monday, August 10th. Weiss Ratings raised Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, BTIG Research upped their price target on Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.48.

Texas Roadhouse Stock Performance

NASDAQ:TXRH traded up $0.22 during midday trading on Tuesday, reaching $158.67. The stock had a trading volume of 108,592 shares, compared to its average volume of 1,037,951. The stock has a market capitalization of $10.42 billion, a P/E ratio of 25.42, a PEG ratio of 1.58 and a beta of 0.78. Texas Roadhouse has a 1-year low of $153.82 and a 1-year high of $216.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The firm’s fifty day simple moving average is $192.36 and its 200-day simple moving average is $180.13.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business earned $1.86 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Texas Roadhouse will post 6.64 EPS for the current fiscal year.

Insider Activity at Texas Roadhouse

In other news, Director Donna E. Epps sold 820 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the transaction, the director owned 4,042 shares in the company, valued at approximately $834,915.52. This represents a 16.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lloyd Marshall sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider directly owned 9,826 shares of the company’s stock, valued at $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,396 shares of company stock worth $4,143,825 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TXRH. BlackRock Inc. bought a new position in shares of Texas Roadhouse in the second quarter valued at approximately $1,273,173,000. Capital World Investors grew its position in Texas Roadhouse by 13.4% during the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after acquiring an additional 300,405 shares during the last quarter. Wellington Management Group LLP grew its position in Texas Roadhouse by 8.4% during the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after acquiring an additional 119,803 shares during the last quarter. Geode Capital Management LLC increased its holdings in Texas Roadhouse by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after purchasing an additional 24,834 shares in the last quarter. Finally, Norges Bank acquired a new stake in Texas Roadhouse during the 4th quarter valued at $145,734,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company’s concepts include Texas Roadhouse steakhouses, Bubba’s 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.