Wedbush Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its target price decreased by analysts at Wedbush from $220.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target suggests a potential upside of 16.57% from the company’s previous close.

Several other research analysts have also commented on the stock. Barclays lifted their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Robert W. Baird lifted their target price on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price for the company. in a report on Wednesday, January 8th. BMO Capital Markets raised their price target on Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, Truist Financial upped their price objective on Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $171.57 on Friday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. Texas Roadhouse has a one year low of $144.82 and a one year high of $206.04. The stock has a 50-day simple moving average of $179.58 and a 200 day simple moving average of $180.02.

Texas Roadhouse (NASDAQ:TXRH) last posted 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. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. On average, equities research analysts forecast that Texas Roadhouse will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TXRH. True Wealth Design LLC acquired a new stake in Texas Roadhouse in the 3rd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Texas Roadhouse in the 4th quarter worth approximately $30,000. PSI Advisors LLC lifted its stake in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after buying an additional 71 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Texas Roadhouse during the fourth quarter worth approximately $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.