These Analysts Boost Their Forecasts On Texas Roadhouse Following Q1 Earnings

Texas Roadhouse TXRH reported better-than-expected first-quarter GAAP EPS results on Thursday.

Texas Roadhouse posted GAAP earnings of $1.69 per share versus market estimates of $1.61 per share. The company's quarterly sales came in at $1.321 billion versus expectations of $1.323 billion, according to data from Benzinga Pro.

Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc. commented, "We are off to a tremendous start in 2024 with strong traffic trends continuing to drive our sales growth. These results demonstrate the success of our operators' commitment to providing legendary food and service to each guest on every shift."

Texas Roadhouse shares rose 3.4% to trade at $163.25 on Friday.

These analysts made changes to their price targets on Texas Roadhouse following earnings announcement.

• Baird raised the price target on Texas Roadhouse from $178 to $182. Baird analyst David Tarantino maintained an Outperform rating.
• Stephens & Co. boosted the price target on Texas Roadhouse from $150 to $164. Stephens & Co. analyst Jim Salera maintained an Equal-Weight rating.
• Wedbush increased the price target on Texas Roadhouse from $170 to $180. Wedbush analyst Nick Setyan maintained an Outperform rating.
• Truist Securities raised the price target on Texas Roadhouse from $170 to $181. Truist Securities analyst Jake Bartlett maintained a Buy rating.
• Barclays raised the price target on Texas Roadhouse from $138 to $160. Barclays analyst Jeffrey Bernstein maintained an Equal-Weight rating.
• BMO Capital boosted the price target on Texas Roadhouse from $130 to $145. BMO Capital analyst Andrew Strelzik maintained a Market Perform rating.
• Evercore ISI Group boosted the price target on Texas Roadhouse from $160 to $175 Evercore ISI Group analyst David Palmer maintained an Outperform rating.
• RBC Capital boosted the price target on Texas Roadhouse from $145 to $165. RBC Capital analyst Christopher Carril maintained a Sector Perform rating.

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