JPMorgan Chase & Co. Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $185.00 to $184.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.18% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price for the company. Barclays cut their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, Truist Financial dropped their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Texas Roadhouse currently has an average rating of “Moderate Buy” and an average price target of $192.91.

Texas Roadhouse Price Performance

Shares of TXRH stock traded up $3.25 on Thursday, hitting $173.29. 191,020 shares of the stock traded hands, compared to its average volume of 805,213. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.23 and a beta of 1.00. The firm has a 50 day simple moving average of $177.18 and a two-hundred day simple moving average of $181.20. Texas Roadhouse has a 52 week low of $146.75 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Sell-side analysts forecast that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 580 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at approximately $2,183,280. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock worth $3,198,367 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Texas Roadhouse during the 4th quarter worth approximately $30,000. Coppell Advisory Solutions LLC raised its stake in shares of Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse during the 4th quarter worth approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after acquiring an additional 65 shares in the last quarter. 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.