The price target for Texas Roadhouse (NASDAQ: TXRH) has been increased from $170.00 to $185.00 by analysts at Barclays, as noted in a report issued to investors on Wednesday. This adjustment suggests a potential upside of 1.88% from the current stock price, while Barclays maintains an “equal weight” rating on the restaurant operator’s shares.
Multiple financial institutions have recently provided insights into Texas Roadhouse’s stock performance. UBS Group reiterated a “buy” rating on November 10, while JPMorgan Chase & Co. adjusted their target from $200.00 to $182.00, categorizing it as “neutral.” On September 16, Guggenheim reaffirmed a “buy” rating with a target price of $210.00. Notably, Sanford C. Bernstein also set a price target of $185.00.
Currently, analysts have given the stock a consensus rating of “Moderate Buy,” with an average target price of $193.38. The breakdown of ratings includes two analysts with a Strong Buy rating, eleven with a Buy rating, ten with a Hold rating, and one issuing a Sell rating.
Quarterly Earnings and Financial Performance
Texas Roadhouse’s latest quarterly earnings report, released on November 6, revealed an earnings per share (EPS) of $1.25, falling short of analysts’ expectations of $1.28 by $0.03. The company reported revenue of $1.44 billion, slightly exceeding the forecast of $1.43 billion. Year-over-year, the revenue increased by 12.8%, while the net margin stood at 7.49% and return on equity at 30.59%.
Looking ahead, sell-side analysts project Texas Roadhouse will report an EPS of $7.23 for the current fiscal year.
Insider Transactions and Institutional Activity
In related news, Director Gregory N. Moore sold 1,400 shares of Texas Roadhouse on December 3, obtaining an average price of $170.00, which totaled approximately $238,000.00. Following this transaction, Moore’s ownership in the company decreased by 4.17%, leaving him with 32,150 shares valued at about $5,465,500.
Additionally, Director Hugh J. Carroll sold 1,000 shares on December 4, achieving an average sale price of $167.27, amounting to $167,270.00. This sale resulted in a 35.04% decrease in Carroll’s position, now comprising 1,854 shares worth approximately $310,118.58.
Insider ownership represents 0.50% of the company’s stock. Institutional investors show significant interest, with 94.82% of shares being held by institutional investors and hedge funds. Notably, Roundview Capital LLC acquired a new stake valued at approximately $1,482,000 during the second quarter. Commonwealth of Pennsylvania Public School Employees Retirement System significantly increased its holdings by 2,515.2%, now owning 417,045 shares valued at $78,158,000.
Texas Roadhouse, founded by Kent Taylor in 1993, has established itself as a prominent casual dining chain, specializing in hand-cut steaks, ribs, chicken, and seafood. The brand is recognized for its Western-themed decor and commitment to providing a vibrant dining experience focused on quality and hospitality.
