JPMorgan Chase & Co. Has Lowered Expectations for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $185.00 to $184.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 4.62% from the company's previous close.

Several other research analysts also recently weighed in on the company. Truist Financial lowered their target price on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Wedbush dropped their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an "outperform" rating on the stock 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 target price for the company. in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.91.

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Texas Roadhouse Trading Up 3.5 %

Shares of NASDAQ TXRH traded up $5.99 during trading hours on Thursday, reaching $175.87. The stock had a trading volume of 1,273,414 shares, compared to its average volume of 815,558. The firm has a 50-day moving average of $176.70 and a 200-day moving average of $181.41. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse has a fifty-two week low of $146.75 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, equities analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher C. Colson sold 1,370 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the sale, the president now owns 18,414 shares of the company's stock, valued at $3,418,374.96. The trade was a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 over the last quarter. Company insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its position in Texas Roadhouse by 8,594.4% in the third quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator's stock valued at $553,000 after purchasing an additional 3,094 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Texas Roadhouse during the 3rd quarter worth approximately $17,853,000. Victory Capital Management Inc. increased its position in shares of Texas Roadhouse by 194.9% during the third quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator's stock worth $11,962,000 after acquiring an additional 44,768 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in shares of Texas Roadhouse in the 4th quarter valued at approximately $316,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at approximately $55,177,000. Hedge funds and other 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.