Texas Roadhouse, Inc. (NASDAQ:TXRH) to Post Q1 2024 Earnings of $1.41 Per Share, Wedbush Forecasts

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

Other research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Texas Roadhouse in a research note on Friday, December 1st. Morgan Stanley upped their price target on shares of Texas Roadhouse from $106.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. JPMorgan Chase & Co. upgraded shares of Texas Roadhouse from an “underweight” rating to a “neutral” rating and set a $120.00 price target on the stock in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft started coverage on Texas Roadhouse in a report on Thursday, October 19th. They set a “buy” rating and a $111.00 price objective for the company. Finally, Barclays reduced their target price on Texas Roadhouse from $108.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and a consensus price target of $119.80.

Check Out Our Latest Report on Texas Roadhouse

Texas Roadhouse Trading Up 2.2 %

NASDAQ TXRH opened at $135.49 on Thursday. The business’s 50-day moving average price is $120.11 and its 200 day moving average price is $109.12. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $135.60. The company has a market capitalization of $9.05 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96.

Institutional Trading of Texas Roadhouse

Hedge funds have recently made changes to their positions in the stock. Operose Advisors LLC bought a new position in Texas Roadhouse during the 3rd quarter valued at $28,000. Quarry LP lifted its position in shares of Texas Roadhouse by 100.6% during the second quarter. Quarry LP now owns 364 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 60,364 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Texas Roadhouse in the second quarter worth about $32,000. Belpointe Asset Management LLC increased its holdings in Texas Roadhouse by 71.9% in the first quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 192 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Texas Roadhouse by 35.8% during the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In related news, insider Christopher C. Colson sold 2,011 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $119.19, for a total transaction of $239,691.09. Following the completion of the sale, the insider now directly owns 6,500 shares of the company’s stock, valued at approximately $774,735. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 value of $239,691.09. Following the transaction, the insider now owns 6,500 shares in the company, valued at $774,735. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $112.54, for a total value of $562,700.00. Following the completion of the transaction, the chief executive officer now directly owns 89,824 shares of the company’s stock, valued at approximately $10,108,792.96. The disclosure for this sale can be found here. Insiders sold 17,011 shares of company stock valued at $1,969,991 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Company Profile

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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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