Wedbush Comments on Texas Roadhouse, Inc.’s Q1 2024 Earnings (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRHFree Report) – Analysts at Wedbush cut their Q1 2024 earnings estimates for shares of Texas Roadhouse in a note issued to investors on Wednesday, February 7th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $1.41 per share for the quarter, down from their previous forecast of $1.48. Wedbush has a “Outperform” rating and a $145.00 price target on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $4.53 per share.

Other research analysts have also recently issued research reports about the stock. Truist Financial dropped their price objective on shares of Texas Roadhouse from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Citigroup lowered their target price on shares of Texas Roadhouse from $128.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. JPMorgan Chase & Co. raised shares of Texas Roadhouse from an “underweight” rating to a “neutral” rating and set a $120.00 target price for the company in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Texas Roadhouse in a report on Thursday, October 19th. They set a “buy” rating and a $111.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Texas Roadhouse from $106.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.80.

Check Out Our Latest Report on Texas Roadhouse

Texas Roadhouse Price Performance

TXRH stock opened at $132.61 on Thursday. The company has a 50 day moving average price of $119.69 and a 200 day moving average price of $108.95. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $133.15. The stock has a market capitalization of $8.86 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the company. Operose Advisors LLC bought a new position in Texas Roadhouse in the 3rd quarter valued at about $28,000. Quarry LP raised its holdings in Texas Roadhouse by 100.6% in the 2nd quarter. Quarry LP now owns 364 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 60,364 shares during the period. Neo Ivy Capital Management bought a new position in Texas Roadhouse in the 2nd quarter valued at about $32,000. Belpointe Asset Management LLC raised its holdings in Texas Roadhouse by 71.9% in the 1st quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 192 shares during the period. Finally, Fifth Third Bancorp raised its holdings in 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. 97.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $112.54, for a total transaction of $562,700.00. Following the sale, the chief executive officer now directly owns 89,824 shares of the company’s stock, valued at approximately $10,108,792.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $112.54, for a total transaction of $562,700.00. Following the sale, the chief executive officer now directly owns 89,824 shares of the company’s stock, valued at approximately $10,108,792.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher C. Colson sold 2,011 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $119.19, for a total transaction of $239,691.09. Following the sale, the insider now directly owns 6,500 shares in the company, valued at $774,735. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,011 shares of company stock valued at $1,969,991. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company 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.

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