Short Interest in Texas Roadhouse, Inc. (NASDAQ:TXRH) Grows By 19.9%

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TXRH. True Wealth Design LLC bought a new position in shares of Texas Roadhouse during the third quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $30,000. PSI Advisors LLC increased its holdings in shares of Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares during the period. Coppell Advisory Solutions LLC increased its stake in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 71 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Texas Roadhouse in the fourth quarter valued at approximately $36,000. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Trading Up 0.2 %

Shares of TXRH opened at $171.70 on Friday. Texas Roadhouse has a 12 month low of $132.28 and a 12 month high of $206.04. The firm’s 50 day moving average is $181.04 and its 200-day moving average is $180.02. The stock has a market capitalization of $11.45 billion, a PE ratio of 29.50, a P/E/G ratio of 1.28 and a beta of 1.02.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $200.00 price objective on shares of Texas Roadhouse in a research note on Thursday, January 16th. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 price objective for the company. Truist Financial increased their price objective on shares of Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research note on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $190.83.

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.