Texas Roadhouse (TXRH) Price Target Cut to $61.00 by Analysts at Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) had its price objective cut by Morgan Stanley from $63.00 to $61.00 in a report released on Tuesday. They currently have an equal weight rating on the restaurant operator’s stock.

Several other equities analysts have also recently commented on TXRH. Wedbush cut their target price on shares of Texas Roadhouse from $67.00 to $62.00 and set a neutral rating for the company in a research note on Tuesday. Gordon Haskett assumed coverage on shares of Texas Roadhouse in a research note on Thursday, October 18th. They set an underperform rating and a $60.00 target price for the company. Royal Bank of Canada cut their target price on shares of Texas Roadhouse to $66.00 and set an outperform rating for the company in a research note on Tuesday. Maxim Group cut their target price on shares of Texas Roadhouse to $66.00 and set a positive rating for the company in a research note on Tuesday. Finally, Barclays cut their target price on shares of Texas Roadhouse from $66.00 to $64.00 and set an overweight rating for the company in a research note on Tuesday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Texas Roadhouse currently has an average rating of Hold and a consensus price target of $65.00.

Shares of Texas Roadhouse stock opened at $62.10 on Tuesday. Texas Roadhouse has a 1-year low of $47.70 and a 1-year high of $75.24. The firm has a market capitalization of $4.32 billion, a PE ratio of 31.52, a PEG ratio of 2.33 and a beta of 0.77.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.14). Texas Roadhouse had a return on equity of 17.39% and a net margin of 6.53%. The firm had revenue of $594.60 million during the quarter, compared to analyst estimates of $594.16 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Texas Roadhouse’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse will post 2.19 EPS for the current fiscal year.

In other Texas Roadhouse news, COO Douglas W. Thompson sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $68.75, for a total value of $687,500.00. Following the sale, the chief operating officer now owns 38,519 shares of the company’s stock, valued at approximately $2,648,181.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tonya Robinson sold 1,023 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $67.17, for a total transaction of $68,714.91. Following the completion of the sale, the chief financial officer now directly owns 2 shares in the company, valued at approximately $134.34. The disclosure for this sale can be found here. Insiders sold a total of 18,273 shares of company stock worth $1,238,107 in the last three months. Insiders own 5.89% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TXRH. FMR LLC increased its holdings in Texas Roadhouse by 44.9% in the 2nd quarter. FMR LLC now owns 2,170,345 shares of the restaurant operator’s stock valued at $142,179,000 after buying an additional 672,768 shares during the period. OppenheimerFunds Inc. increased its holdings in Texas Roadhouse by 131.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 655,595 shares of the restaurant operator’s stock valued at $42,948,000 after buying an additional 372,362 shares during the period. PNC Financial Services Group Inc. increased its holdings in Texas Roadhouse by 119.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 224,870 shares of the restaurant operator’s stock valued at $14,732,000 after buying an additional 122,405 shares during the period. Marshall Wace LLP grew its holdings in shares of Texas Roadhouse by 854.3% in the 2nd quarter. Marshall Wace LLP now owns 124,389 shares of the restaurant operator’s stock worth $8,149,000 after purchasing an additional 111,354 shares during the last quarter. Finally, First Quadrant L P CA bought a new stake in shares of Texas Roadhouse in the 3rd quarter worth about $5,137,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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