Texas Roadhouse Analysts Raise Their Forecasts Following Q4 Results

Texas Roadhouse TXRH reported upbeat earnings for its fourth quarter on Thursday.

Texas Roadhouse posted GAAP earnings of $1.08 per share, beating market estimates of $1.06 per share. The company’s quarterly sales came in at $1.16 billion, in-line with estimates, according to data from Benzinga Pro.

Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc. said, “We had another outstanding year in 2023, which was highlighted by double-digit same store sales growth and a record number of new system-wide openings across all three brands. We are extremely thankful to our operators for their exceptional leadership and all Roadies who make dining at our restaurants such a legendary experience.”

Texas Roadhouse reiterated its FY24 total capital expenditures of $340 million to $350 million.

Texas Roadhouse shares gained 1.2% to close at $133.89 on Thursday.

These analysts made changes to their price targets on Texas Roadhouse after the company reported quarterly results.

• Wedbush boosted the price target on Texas Roadhouse from $145 to $160. Wedbush maintained an Outperform rating.
• Stephens & Co. increased the price target on Texas Roadhouse from $105 to $135. Stephens & Co. analyst Joshua Long maintained an Equal-Weight rating.

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