Texas Roadhouse (NASDAQ:TXRH) Stock Price Target Cut by TD Cowen

Texas Roadhouse (NASDAQ:TXRH) had its target price cut by TD Cowen from $230.00 to $195.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s target price would indicate a potential upside of 14.06% from the company’s previous close.

Several other equities analysts have also recently commented on TXRH. Stephens upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 price target on the stock in a report on Thursday. Seaport Research Partners assumed coverage on Texas Roadhouse in a research report on Wednesday, September 16th. They set a “buy” rating and a $195.00 price objective for the company. Barclays lowered Texas Roadhouse from an “equal weight” rating to a “cautious” rating in a research report on Wednesday. Evercore set a $220.00 target price on Texas Roadhouse in a research report on Friday, September 25th. Finally, Vertical Research raised Texas Roadhouse to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.68.

Texas Roadhouse Stock Performance

TXRH stock opened at $170.97 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The stock has a market cap of $11.22 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.66 and a beta of 0.80. The firm has a 50 day simple moving average of $181.56 and a 200 day simple moving average of $179.42. Texas Roadhouse has a 52 week low of $153.82 and a 52 week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse will post 6.59 earnings per share for the current fiscal year.

Insider Transactions at Texas Roadhouse

In related news, Director Gregory Moore sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lloyd Marshall sold 500 shares of the stock in a transaction on 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 in the company, valued at $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,970 shares of company stock valued at $4,061,808 in the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $1,273,173,000. Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 8.4% in the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after purchasing an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Texas Roadhouse by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after purchasing an additional 34,385 shares during the period. Bessemer Group Inc. boosted its position in Texas Roadhouse by 38.1% during the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock worth $120,951,000 after purchasing an additional 202,241 shares during the period. Finally, Bank of America Corp DE acquired a new position in Texas Roadhouse during the second quarter valued at approximately $113,993,000. 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, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.