Royal Bank of Canada Trims Texas Roadhouse (TXRH) Target Price to $66.00

Texas Roadhouse (NASDAQ:TXRH) had its price target dropped by investment analysts at Royal Bank of Canada to $66.00 in a research report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price target points to a potential downside of 1.21% from the company’s previous close.

A number of other research firms also recently weighed in on TXRH. Wedbush downgraded shares of Texas Roadhouse from an “outperform” rating to a “neutral” rating and set a $67.00 price target on the stock. in a research note on Monday, September 10th. They noted that the move was a valuation call. Robert W. Baird downgraded shares of Texas Roadhouse from an “outperform” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research note on Monday, September 10th. BidaskClub upgraded shares of Texas Roadhouse from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Stephens downgraded shares of Texas Roadhouse from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $75.00 to $70.00 in a research note on Wednesday, September 12th. They noted that the move was a valuation call. Finally, BTIG Research downgraded shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a research note on Thursday, September 13th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $64.80.

TXRH opened at $66.81 on Tuesday. Texas Roadhouse has a 1-year low of $47.70 and a 1-year high of $75.24. The company has a market capitalization of $4.80 billion, a PE ratio of 33.91, a P/E/G ratio of 2.43 and a beta of 0.62.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.14). Texas Roadhouse had a net margin of 6.76% and a return on equity of 18.15%. The company had revenue of $594.60 million during the quarter, compared to analyst estimates of $594.16 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Texas Roadhouse will post 2.33 earnings per share for the current year.

In other Texas Roadhouse news, COO Douglas W. Thompson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $68.75, for a total transaction of $687,500.00. Following the completion of the transaction, the chief operating officer now owns 38,519 shares in the company, valued at approximately $2,648,181.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tonya Robinson sold 1,023 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $67.17, for a total transaction of $68,714.91. Following the transaction, the chief financial officer now owns 2 shares of the company’s stock, valued at approximately $134.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,023 shares of company stock worth $973,715. 5.89% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bruderman Asset Management LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $123,000. Cornerstone Wealth Management LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $200,000. Zeke Capital Advisors LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $209,000. World Asset Management Inc bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $211,000. Finally, Alps Advisors Inc. bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at $225,000. Hedge funds and other institutional investors own 91.78% 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. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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