Texas Roadhouse, Inc. (NASDAQ:TXRH) Sees Significant Growth in Short Interest

Texas Roadhouse, Inc. (NASDAQ:TXRH) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 2,110,000 shares, a growth of 19.9% from the January 15th total of 1,760,000 shares. Based on an average daily volume of 769,300 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.2% of the company’s shares are sold short.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH traded up $0.27 during trading on Friday, hitting $171.70. The company’s stock had a trading volume of 1,059,207 shares, compared to its average volume of 885,523. The company has a 50-day moving average of $181.54 and a 200-day moving average of $179.98. Texas Roadhouse has a 12 month low of $132.28 and a 12 month high of $206.04. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.28 and a beta of 1.02.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research report on Thursday, January 16th. Robert W. Baird upped their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Loop Capital reduced their target price on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. UBS Group upped their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus reduced their target price on shares of Texas Roadhouse from $195.00 to $185.00 and set a “hold” rating on the stock in a research report on Friday. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $190.83.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Several institutional investors have recently made changes to their positions in TXRH. Mercer Global Advisors Inc. ADV bought a new stake in Texas Roadhouse during the 4th quarter worth approximately $453,000. Freestone Grove Partners LP purchased a new stake in Texas Roadhouse during the 4th quarter valued at approximately $287,000. Comerica Bank grew its holdings in Texas Roadhouse by 16.0% during the 4th quarter. Comerica Bank now owns 132,914 shares of the restaurant operator’s stock valued at $23,982,000 after buying an additional 18,339 shares in the last quarter. Northern Trust Corp grew its holdings in Texas Roadhouse by 22.7% during the 4th quarter. Northern Trust Corp now owns 594,406 shares of the restaurant operator’s stock valued at $107,249,000 after buying an additional 110,128 shares in the last quarter. Finally, Quarry LP grew its holdings in Texas Roadhouse by 18.7% during the 4th quarter. Quarry LP now owns 597 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 94 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

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.