Royal Bank of Canada Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its target price reduced by research analysts at Royal Bank of Canada from $200.00 to $180.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 7.10% from the stock’s previous close.

Several other brokerages also recently commented on TXRH. BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Barclays decreased their price objective on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a report on Friday. Robert W. Baird upped their price target on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus cut their price target on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.32.

Texas Roadhouse Trading Down 2.0 %

Shares of NASDAQ:TXRH traded down $3.50 during trading on Friday, reaching $168.07. 1,461,135 shares of the stock were exchanged, compared to its average volume of 1,037,060. Texas Roadhouse has a 12 month low of $146.51 and a 12 month high of $206.04. The firm has a market cap of $11.21 billion, a PE ratio of 28.88, a PEG ratio of 1.25 and a beta of 1.02. The stock has a 50-day moving average price of $179.58 and a 200-day moving average price of $180.02.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. On average, sell-side analysts expect that Texas Roadhouse will post 6.4 earnings per share for the current fiscal year.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Texas Roadhouse in the 4th quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in Texas Roadhouse in the 3rd quarter valued at about $30,000. PSI Advisors LLC increased its stake in Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 75 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 71 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Texas Roadhouse in the 4th quarter valued at about $36,000. Institutional investors own 94.82% of the company’s stock.

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.