UBS Group Lowers Texas Roadhouse (NASDAQ:TXRH) Price Target to $62.00

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Texas Roadhouse (NASDAQ:TXRH) had its price objective dropped by analysts at UBS Group from $65.00 to $62.00 in a report released on Tuesday, July 30th, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s price objective would indicate a potential upside of 23.80% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Co reduced their target price on shares of Texas Roadhouse from $63.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Longbow Research raised shares of Texas Roadhouse from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, May 7th. Zacks Investment Research raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. BidaskClub upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Maxim Group reiterated a “buy” rating and set a $66.00 target price (up from $63.00) on shares of Texas Roadhouse in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.70.

Shares of TXRH stock opened at $50.08 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.73 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company’s fifty day moving average price is $54.28 and its 200-day moving average price is $57.58. Texas Roadhouse has a 12 month low of $49.77 and a 12 month high of $75.24.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Monday, July 29th. The restaurant operator reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Texas Roadhouse had a net margin of 5.99% and a return on equity of 16.30%. The business had revenue of $689.80 million for the quarter, compared to analysts’ expectations of $688.11 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Texas Roadhouse will post 2.3 earnings per share for the current fiscal year.

In other Texas Roadhouse news, insider S. Chris Jacobsen sold 2,500 shares of Texas Roadhouse stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the insider now owns 21,197 shares in the company, valued at $1,271,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory N. Moore sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $55.53, for a total value of $1,277,190.00. The disclosure for this sale can be found here. 5.89% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in TXRH. Victory Capital Management Inc. acquired a new stake in shares of Texas Roadhouse during the second quarter worth about $47,679,000. Norges Bank acquired a new stake in shares of Texas Roadhouse during the fourth quarter worth about $43,777,000. Nuveen Asset Management LLC acquired a new stake in shares of Texas Roadhouse during the second quarter worth about $38,298,000. Marshall Wace LLP lifted its holdings in Texas Roadhouse by 91.4% in the second quarter. Marshall Wace LLP now owns 1,182,711 shares of the restaurant operator’s stock valued at $63,476,000 after acquiring an additional 564,897 shares during the period. Finally, Invesco Ltd. lifted its holdings in Texas Roadhouse by 40.3% in the second quarter. Invesco Ltd. now owns 1,652,249 shares of the restaurant operator’s stock valued at $88,676,000 after acquiring an additional 474,621 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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Analyst Recommendations for Texas Roadhouse (NASDAQ:TXRH)

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