Benchmark Initiates Coverage on Texas Roadhouse (NASDAQ:TXRH)

Stock analysts at Benchmark assumed coverage on shares of Texas Roadhouse (NASDAQ:TXRH) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “hold” rating on the restaurant operator’s stock.

TXRH has been the topic of a number of other research reports. Wedbush lifted their price objective on Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their price objective on Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Stephens lifted their price objective on Texas Roadhouse from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Truist Financial lifted their price objective on Texas Roadhouse from $152.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $133.55.

Texas Roadhouse Stock Down 0.3 %

NASDAQ TXRH opened at $148.97 on Wednesday. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $157.12. The business’s 50-day moving average price is $146.73 and its 200 day moving average price is $122.72. The firm has a market cap of $9.96 billion, a P/E ratio of 32.89, a P/E/G ratio of 1.66 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Texas Roadhouse will post 5.71 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TXRH. Bank of America Corp DE raised its holdings in Texas Roadhouse by 82.5% in the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock valued at $254,969,000 after acquiring an additional 1,066,581 shares during the last quarter. Morgan Stanley raised its holdings in Texas Roadhouse by 154.8% in the 4th quarter. Morgan Stanley now owns 1,064,802 shares of the restaurant operator’s stock valued at $96,844,000 after acquiring an additional 646,982 shares during the last quarter. Norges Bank acquired a new position in Texas Roadhouse in the 4th quarter valued at $78,544,000. BlackRock Inc. raised its holdings in Texas Roadhouse by 7.8% in the 1st quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock valued at $680,519,000 after acquiring an additional 585,944 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Texas Roadhouse by 4,434,627.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 487,820 shares of the restaurant operator’s stock valued at $52,714,000 after acquiring an additional 487,809 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.