Melius Begins Coverage on Texas Roadhouse (NASDAQ:TXRH)

Research analysts at Melius began coverage on shares of Texas Roadhouse (NASDAQ:TXRH) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $235.00 price target on the restaurant operator’s stock. Melius’ target price indicates a potential upside of 27.26% from the stock’s current price.

TXRH has been the topic of several other research reports. Wells Fargo & Company reduced their target price on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the stock an “outperform” rating in a report on Monday, April 7th. Wedbush boosted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.09.

Texas Roadhouse Trading Down 2.0%

Shares of Texas Roadhouse stock opened at $184.66 on Monday. The firm has a market capitalization of $12.25 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87. Texas Roadhouse has a 12 month low of $148.73 and a 12 month high of $206.04. The business’s 50-day moving average price is $189.42 and its 200-day moving average price is $178.77.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company earned $1.69 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts predict that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the sale, the director owned 4,632 shares of the company’s stock, valued at approximately $863,960.64. The trade was a 14.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory N. Moore sold 1,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the transaction, the director owned 38,050 shares in the company, valued at $7,138,941. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Retirement Guys Formula LLC bought a new position in shares of Texas Roadhouse in the 2nd quarter worth about $201,000. TD Private Client Wealth LLC grew its holdings in Texas Roadhouse by 865.6% in the second quarter. TD Private Client Wealth LLC now owns 589 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 528 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of Texas Roadhouse by 53.0% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 16,104 shares of the restaurant operator’s stock valued at $3,018,000 after purchasing an additional 5,581 shares in the last quarter. Bfsg LLC lifted its holdings in shares of Texas Roadhouse by 1.2% during the second quarter. Bfsg LLC now owns 14,116 shares of the restaurant operator’s stock valued at $2,645,000 after purchasing an additional 164 shares during the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of Texas Roadhouse by 10.6% during the second quarter. Gries Financial LLC now owns 2,083 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other 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.