Texas Roadhouse (NASDAQ:TXRH) Rating Reiterated by Wedbush

Texas Roadhouse (NASDAQ:TXRH)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Tuesday, Benzinga reports. They presently have a $190.00 target price on the restaurant operator’s stock. Wedbush’s target price would indicate a potential upside of 7.27% from the company’s previous close.

Other research analysts also recently issued reports about the company. BTIG Research lifted their price target on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America raised their price target on shares of Texas Roadhouse from $189.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, June 7th. Wells Fargo & Company boosted their price target on Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Evercore ISI raised their price objective on Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.95.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $177.13 on Tuesday. The company has a 50 day simple moving average of $168.10 and a 200-day simple moving average of $164.38. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $179.32.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $1.22 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Texas Roadhouse will post 6.32 EPS for the current year.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors have recently modified their holdings of TXRH. Point72 DIFC Ltd acquired a new stake in shares of Texas Roadhouse in the second quarter valued at approximately $127,000. Sanctuary Advisors LLC bought a new position in Texas Roadhouse in the 2nd quarter valued at $953,000. Maven Securities LTD bought a new position in Texas Roadhouse in the 2nd quarter valued at $427,000. Cetera Investment Advisers raised its position in shares of Texas Roadhouse by 125.1% during the second quarter. Cetera Investment Advisers now owns 6,392 shares of the restaurant operator’s stock worth $1,098,000 after acquiring an additional 3,553 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Texas Roadhouse by 41.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 684 shares of the restaurant operator’s stock valued at $117,000 after acquiring an additional 199 shares during the period. 94.82% of the stock is owned by institutional investors.

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.