Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $200.00

Texas Roadhouse (NASDAQ:TXRH) had its price target hoisted by Mizuho from $190.00 to $200.00 in a report published on Thursday, Marketbeat reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other research firms have also commented on TXRH. The Goldman Sachs Group upped their price target on Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Wall Street Zen cut Texas Roadhouse from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Barclays upped their target price on Texas Roadhouse from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Sanford C. Bernstein set a $185.00 price target on shares of Texas Roadhouse in a report on Wednesday, January 7th. Finally, Zacks Research raised shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average target price of $196.57.

Texas Roadhouse Stock Down 0.6%

Shares of Texas Roadhouse stock opened at $180.90 on Thursday. The company’s fifty day simple moving average is $179.13 and its two-hundred day simple moving average is $173.53. Texas Roadhouse has a 12-month low of $148.73 and a 12-month high of $199.99. The firm has a market cap of $11.97 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Insider Activity at Texas Roadhouse

In other news, Director Hugh J. Carroll sold 1,000 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the transaction, the director directly owned 1,854 shares in the company, valued at approximately $310,118.58. This trade represents a 35.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the chief executive officer directly owned 91,774 shares in the company, valued at approximately $17,987,704. This represents a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,400 shares of company stock valued at $2,320,920 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in Texas Roadhouse by 528.2% during the 2nd quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock valued at $594,603,000 after purchasing an additional 2,667,716 shares in the last quarter. Capital World Investors increased its holdings in Texas Roadhouse by 580.2% during the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after buying an additional 1,908,033 shares during the last quarter. AQR Capital Management LLC increased its position in Texas Roadhouse by 85.7% in the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock worth $439,102,000 after buying an additional 1,081,413 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Texas Roadhouse during the 3rd quarter worth approximately $157,310,000. Finally, Norges Bank bought a new position in shares of Texas Roadhouse in the fourth quarter worth approximately $145,734,000. 94.82% of the stock is owned by institutional investors.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.