Texas Roadhouse Stock (NASDAQ:TXRH), Trade Ideas

Texas Roadhouse

Texas Roadhouse Inc is a restaurant company operating predominately in the casual dining segment. The company's operating segment includes Texas Roadhouse; Bubba's 33 and others. It generates maximum revenue from the Texas Roadhouse segment.

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U.S. restaurants continue to flourish in 2024 after impressive performances in the last two years. Restaurant sales were not impacted much despite severe inflationary pressure. The momentum is likely to continue for the rest of 2024.

5 Restaurant Stocks to Buy on Strong Sales in March

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Analyst Ratings

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

Netflix To Rally Around 24%? Here Are 10 Top Analyst Forecasts For Friday

Short Ideas

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Pre-Market Outlook

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The Nasdaq 100 closed higher by over 100 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.

Alphabet, Starbucks And 2 Other Stocks Insiders Are Selling

Texas Roadhouse Inc

Citigroup analyst Jon Tower maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Buy and raises the price target from $162 to $178.

Citigroup Maintains Buy on Texas Roadhouse, Raises Price Target to $178

U.S. restaurants continue to flourish in 2024 after impressive performances in the last two years. Restaurant sales were not impacted much despite severe inflationary pressure. The momentum is likely to continue for the rest of 2024.
<h3>Strong Restaurant Sales in March</h3>
The Department of Commerce reported that sales at U.S. bars and restaurants (adjusted for seasonal variation and holiday sales but not for price changes) came in at $93.7 billion in March, up 0.4% from February. Year over year, spending on restaurants and bars rose 6.5% in February.
The restaurant space is the primary driver of growth for overall retail sales. Steady consumer spending continued in the first three months of 2024 despite worries that the economy may enter a recession in the near term. Although higher interest rates concerned customers, they did not cut down on spending at restaurants and bars.
The Zacks-defined Retail &ndash; Restaurant Industry is currently in the top 41% of the Zacks Industry Rank. Since it is ranked in the top half of Zacks Ranked Industries, we expect the consulting services industry to outperform the market over the next three to six months.
<h3>Innovative Measures</h3>
The restaurant industry is gradually witnessing improving sales. The improvement can be attributed to the enhancement in fundamentals such as modifications in business processes, staffing, floor plans and technology.
Restaurant operators&#39; focus on digital innovation, sales-building initiatives, and cost-saving efforts have been acting as major catalysts. With the growing influence of the Internet, digital innovation has become the need of the hour. Big restaurant chains are constantly partnering with delivery channels and digital platforms to drive incremental sales.
The restaurant industry is consistently gaining from the spike in off-premise sales, which primarily include delivery, takeout, drive-thru, catering, meal kits and off-site options, such as kiosks and food trucks, owing to the coronavirus pandemic. Per NRA, more than 60% of restaurant foods are consumed off-premise.
By 2025, off-premise is likely to account for approximately 80% of the industry&#39;s growth. The idea of providing off-premise offerings along with a connected curbside service is steadily garnering positive customer feedback.
<h3>Our Top Picks</h3>
We have narrowed our search to five restaurant stocks that have strong growth potential for 2024. These stocks have seen positive earnings estimate revision in the last 60 days. Each of our picks carries a Zacks Rank # 2 (Buy).
The chart below shows the price perfroamnce of our five picks in the past three months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/59/65082.jpg?v=1848215292" /> 
Image Source: Zacks Investment Research
Brinker International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eat#NYSE">EAT</a>) primarily owns, operates, develops and franchises various restaurants under Chili&#39;s Grill &amp; Bar (Chili&#39;s) and Maggiano&#39;s Little Italy (Maggiano&#39;s) brands. In the last reported quarter, EAT registered benefits from effective marketing and pricing strategies.
EAT also reported sequential improvements in guest traffic, surpassing industry benchmarks. Also, focus on menu adjustments bodes well. EAT intends to focus on balancing value offerings with margin expansion and adaptability to changing consumer preferences to drive growth.
Brinker International has an expected revenue and earnings growth rate of 4.9% and 31.1%, respectively, for the current year (ending June 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last seven days.
Shake Shack Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shak#NYSE">SHAK</a>) has been benefiting from various digital initiatives, strong same-shack sales and unit expansion efforts. SHAK&#39;s digital retention continues to be strong. It has also been making investments in digitization in an effort to sustain its digital guest enhancement strategies in the near term.
Shake Shack has an expected revenue and earnings growth rate of 14.5% and 91.9%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 51.1% over the last 60 days.
Texas Roadhouse Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) is a full-service, casual dining restaurant chain offering assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. TXRH operates restaurants under the Texas Roadhouse and Aspen Creek names.
TXRH offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. TXRH also provides supervisory and administrative services for other licensed and franchise restaurants.
Texas Roadhouse has an expected revenue and earnings growth rate of 13.9% and 26.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last seven days.
Portillo&#39;s Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptlo#NASDAQ">PTLO</a>) owns and operates fast casual restaurants in the United States. PTLO offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shakes. PTLO offers its products through its website, application, and certain third-party platforms.
Portillo&#39;s has an expected revenue and earnings growth rate of 12.3% and 10.8%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 5.1% over the last 60 days.
Wingstop Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wing#NASDAQ">WING</a>) franchises and operates restaurants. WING&#39;s operating segment consists of the Franchise and Company segments. WING offers classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors.
Wingstop has an expected revenue and earnings growth rate of 20.1% and 21%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last seven days.
<a href="https://www.zacks.com/stock/news/2255935/5-restaurant-stocks-to-buy-on-strong-sales-in-march?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2255935">To read this article on Zacks.com click here.</a>

Jefferies analyst Andy Barish maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Hold and raises the price target from $120 to $136.

Jefferies Maintains Hold on Texas Roadhouse, Raises Price Target to $136

Morgan Stanley analyst John Glass maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Equal-Weight and raises the price target from $135 to $145.

Morgan Stanley Maintains Equal-Weight on Texas Roadhouse, Raises Price Target to $145

Stephens &amp; Co. analyst Jim Salera reinstates Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Equal-Weight and announces $150 price target.

Initiation

Stephens & Co. Reinstates Equal-Weight on Texas Roadhouse, Announces $150 Price Target

Benchmark analyst Todd Brooks initiates coverage on Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Hold rating.

Benchmark Initiates Coverage On Texas Roadhouse with Hold Rating

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Piper Sandler boosted the price target for Phillips 66 (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psx#NYSE">PSX</a>) from $169 to $187. Piper Sandler analyst Ryan Todd maintained an Overweight rating. Phillips 66 shares fell 1.2% to close at $170.68 on Thursday. <a href="https://www.benzinga.com/quote/PSX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup increased the price target for Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>) from $30 to $32. Citigroup analyst Thomas Palmer maintained a Neutral rating. Conagra shares gained 5.4% to close at $30.64 on Thursday.<a href="https://www.benzinga.com/quote/CAG/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>JP Morgan raised The Scotts Miracle-Gro Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smg#NYSE">SMG</a>) price target from $70 to $85. JP Morgan analyst Jeffrey Zekauskas maintained an Overweight rating. Scotts Miracle-Gro shares fell 0.4% to close at $74.06 on Thursday. <a href="https://www.benzinga.com/quote/SMG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Rosenblatt raised the price target for Western Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) from $65 to $115. Rosenblatt analyst Kevin Cassidy upgraded the stock from Neutral to Buy. Western Digital shares fell 1.5% to close at $70.54 on Thursday. <a href="https://www.benzinga.com/quote/WDC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut UnitedHealth Group Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>) price target from $618 to $584. Morgan Stanley analyst Ricky Goldwasser maintained an Overweight rating. UnitedHealth shares fell 1% to close at $455.38 on Thursday. <a href="https://www.benzinga.com/quote/UNH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush boosted Texas Roadhouse, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) price target from $160 to $170. Wedbush analyst Nick Setyan maintained an Outperform rating. Texas Roadhouse shares fell 2.9% to close at $148.27 on Thursday. <a href="https://www.benzinga.com/quote/TXRH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Pivotal Research raised the price target for Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) from $700 to $765. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating. Netflix shares fell 2.1% to close at $617.14 on Thursday. <a href="https://www.benzinga.com/quote/NFLX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital raised Eaton Corporation plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/etn#NYSE">ETN</a>) price target from $286 to $37. RBC Capital analyst Deane Dray upgraded the stock from Sector Perform to Outperform. Eaton shares fell 0.2% to close at $320.16 on Thursday. <a href="https://www.benzinga.com/quote/ETN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut Roku, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roku#NASDAQ">ROKU</a>) price target from $65 to $60. Morgan Stanley analyst Benjamin Swinburne maintained an Underweight rating. Roku shares fell 3.2% to close at $60.24 on Thursday. <a href="https://www.benzinga.com/quote/ROKU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Loop Capital increased Ollie&#39;s Bargain Outlet Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/olli#NASDAQ">OLLI</a>) price target from $80 to $90. Loop Capital analyst Anthony Chukumba upgraded the stock from Hold to Buy. Ollie&#39;s Bargain shares climbed 4% to close at $71.16 on Thursday. <a href="https://www.benzinga.com/quote/OLLI/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38104716/kura-sushi-greenbrier-and-3-stocks-to-watch-heading-into-friday"> Kura Sushi, Greenbrier And 3 Stocks To Watch Heading Into Friday </a>

Wedbush analyst Nick Setyan maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Outperform and raises the price target from $160 to $170.

Wedbush Maintains Outperform on Texas Roadhouse, Raises Price Target to $170

Truist Securities analyst Jake Bartlett maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Buy and raises the price target from $152 to $168.

Truist Securities Maintains Buy on Texas Roadhouse, Raises Price Target to $168

JP Morgan analyst John Ivankoe maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Neutral and raises the price target from $142 to $145.

JP Morgan Maintains Neutral on Texas Roadhouse, Raises Price Target to $145

Baird analyst David Tarantino upgrades Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) from Neutral to Outperform and raises the price target from $160 to $175.

Upgrades

Baird Upgrades Texas Roadhouse to Outperform, Raises Price Target to $175

The Nasdaq 100 closed higher by over 100 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Alphabet </h3>
<ul>
<li>The Trade: Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) CEO Sundar Pichai <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 22,500 shares </a> at an average price of $132.70. The insider received around $2.99 million from selling those shares.</li>
<li>What&rsquo;s Happening: To comply with the European Union&rsquo;s (EU) Digital Markets Act (DMA), Google has unveiled the extensive work it has undertaken to meet the stringent regulations set to take effect on Thursday.</li>
<li>What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet&#39;s revenue, of which more than 85% is from online ads.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Texas Roadhouse</h3>
<ul>
<li>The Trade: Texas Roadhouse, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) President Regina A. Tobin <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 4,564 shares </a> at an average price of $150.07. The insider received around $459,814 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 15, Texas Roadhouse reported better-than-expected fourth-quarter GAAP EPS results.</li>
<li>What Texas Roadhouse Does: Texas Roadhouse Inc is a restaurant company operating predominately in the casual dining segment. The company&#39;s operating segment includes Texas Roadhouse; Bubba&#39;s 33 and others. It generates maximum revenue from the Texas Roadhouse segment.</li>
</ul>
<h3>Starbucks </h3>
<ul>
<li>The Trade: Starbucks Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) EVP, CFO Rachel Ruggeri <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 3,221 shares </a> at an average price of $93.06. The insider received around $299,746 from selling those shares.</li>
<li>What&rsquo;s Happening: Gulf retail giant AlShaya Group, known for its Starbucks franchise in the Middle East, is reportedly set to lay off more than 2,000 employees due to business setbacks linked to Gaza war-related boycotts.</li>
<li>What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023.</li>
</ul>
<h3>Morningstar </h3>
<ul>
<li>The Trade: Morningstar, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/morn#NASDAQ">MORN</a>) Executive Chairman Joseph D Mansueto <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 21,578 shares </a> at an average price of $303.51. The insider received around $6.5 million from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 22, Morningstar reported a year-over-year increase in fourth-quarter financial results..</li>
<li>What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37527656/investor-sentiment-improves-slightly-us-stocks-record-gains"> Investor Sentiment Improves Slightly, US Stocks Record Gains </a>
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Texas Roadhouse's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NYSE">TXRH</a>) short percent of float has fallen 9.73% since its last report. The company recently reported that it has 2.09 million shares sold short, which is 4.08% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Texas Roadhouse Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709151310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Texas Roadhouse has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Texas Roadhouse's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Texas Roadhouse's peer group average for short interest as a percentage of float is 8.93%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into Texas Roadhouse's Recent Short Interest

JP Morgan analyst John Ivankoe maintains Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) with a Neutral and raises the price target from $120 to $142.

JP Morgan Maintains Neutral on Texas Roadhouse, Raises Price Target to $142

Northcoast Research analyst Jim Sanderson downgrades Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) from Buy to Neutral.

Downgrades

Northcoast Research Downgrades Texas Roadhouse to Neutral

Shares of DoorDash, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dash#NASDAQ">DASH</a>) fell sharply in today&rsquo;s session as the company reported mixed <a href="https://www.benzinga.com/news/earnings/24/02/37169850/doordash-q4-earnings-revenue-beat-eps-miss-total-orders-up-23-and-more">financial results for its fourth quarter.</a>
The company said it expects first-quarter marketplace GOV to be between $18.5 billion and $18.9 billion and adjusted EBITDA in the range of $320 million to $380 million.
DoorDash shares dipped 12.2% to $110.88 on Friday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Gaxos.ai Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gxai#NASDAQ">GXAI</a>) gained 444% to $1.41. Gaxos Gaming announced plans to launch an AI solution for game developers and studios.</li>
<li>Fusion Fuel Green PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/htoo#NASDAQ">HTOO</a>) shares gained 157% to $3.10. The company said it had received notification from the European Commission that its HEVO-Portugal project was among 33 selected for approval under the Important Projects of Common European Interest (&ldquo;IPCEI&rdquo;) Hy2Infra program.</li>
<li>Pop Culture Group Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cpop#NASDAQ">CPOP</a>) shares jumped 203% to $3.89.</li>
<li>Ambow Education Holding Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ambo#NYSE">AMBO</a>) shares jumped 164% to $0.3649 after surging more than 15% on Thursday.</li>
<li>Tarena International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tctm#NASDAQ">TCTM</a>) climbed 93% to $2.1191 after gaining around 12% on Thursday.</li>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) gained 48% to $45.90.</li>
<li>Yunji Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yj#NASDAQ">YJ</a>) gained 43.5% to $0.8666. Yunji announced appointment of new independent director.</li>
<li>Oriental Culture Holding LTD (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocg#NASDAQ">OCG</a>) jumped 30% to $1.8982.</li>
<li>Boqii Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bq#NYSE">BQ</a>) shares rose 24.2% to $0.3601 after falling around 5% on Thursday.</li>
<li>PRA Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/praa#NASDAQ">PRAA</a>) gained 23.4% to $30.25 following upbeat results.</li>
<li>The Trade Desk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttd#NASDAQ">TTD</a>) shares rose 21% to $91.66 after the company reported mixed fourth-quarter financial results.</li>
<li>Nano-X Imaging Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nnox#NASDAQ">NNOX</a>) gained 19% to $11.31. Nvidia recently reported a 59,632 share stake in the company.</li>
<li>Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) surged 19% to $7.97. Intuitive Machines announced that its IM-1 mission Nova-C class lunar lander has successfully launched on SpaceX&#39;s Falcon 9 rocket.</li>
<li>NOVONIX Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NYSE">NVX</a>) gained 18.8% to $2.2339.</li>
<li>Backblaze, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blze#NASDAQ">BLZE</a>) gained 17.2% to $9.55 after the company reported better-than-expected fourth-quarter financial results and issued full year 2024 revenue guidance above estimates.</li>
<li>Toast, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tost#NYSE">TOST</a>) jumped 16.6% to $22.39 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted subscription services and financial technology solutions guidance. Also the company authorized a $250 million share repurchase program.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) shares rose 15.8% to $191.79 as the company reported better-than-expected financial results for its fourth quarter on Thursday.</li>
<li>Lichen China Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/licn#NASDAQ">LICN</a>) shares rose 13.7% to $1.3299. Lichen China filed for mixed shelf of up to $100 million.</li>
<li>Kinsale Capital Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knsl#NYSE">KNSL</a>) gained 13.1% to $495.00 following upbeat quarterly results.</li>
<li>Texas Roadhouse, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) jumped 10% to $147.30 after the company reported better-than-expected fourth-quarter GAAP EPS results. Also, Wedbush and Stephens &amp; Co raised their respective price targets on the stock.</li>
<li>HireRight Holdings Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrt#NYSE">HRT</a>) rose 9.8% to $14.12 as the company agreed to be acquired by General Atlantic and Stone Point Capital.</li>
<li>Applied Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>) gained 8.3% to $203.27 after the company reported better-than-expected first-quarter financial results and issued second-quarter guidance.</li>
<li>Tantech Holdings Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tanh#NASDAQ">TANH</a>) shares surged 8.1% to $0.94 after jumping 16% on Thursday.</li>
<li>Sarepta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srpt#NASDAQ">SRPT</a>) climbed 7.9% to $134.73 after the FDA accepted and filed the company&#39;s efficacy supplement to the Biologics License Application for ELEVIDYS.</li>
<li>Artivion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aort#NASDAQ">AORT</a>) rose 4.1% to $18.78 following strong quarterly results.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>China Natural Resources, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chnr#NASDAQ">CHNR</a>) dipped 48% to $1.81 after the company arranged a registered direct placement of approximately $3.27 million worth of common shares at $2.20 per share with institutional investors.</li>
<li>JX Luxventure Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jxjt#NASDAQ">JXJT</a>) declined 28% to $1.9850.</li>
<li>Semper Paratus Acquisition Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tvgn#NASDAQ">TVGN</a>) shares fell 25.1% to $7.49 after surging 119% on Thursday. Tevogen Bio announced a $8 million equity investment.</li>
<li>Bloom Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/be#NYSE">BE</a>) shares fell 24% to $7.49 after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Cooper-Standard Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cps#NYSE">CPS</a>) fell 24% to $14.60 following weak quarterly results.</li>
<li>Dunxin Financial Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dxf#NYSE">DXF</a>) fell 24% to $0.3650.</li>
<li>Roku, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roku#NASDAQ">ROKU</a>) shares fell 22.7% to $73.08 after the company reported fourth-quarter financial results.</li>
<li>MultiSensor AI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msai#NASDAQ">MSAI</a>) shares fell 21.7% to $2.75 after jumping over 68% on Thursday.</li>
<li>Trupanion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trup#NASDAQ">TRUP</a>) fell 19.5% to $28.41 following fourth-quarter results.</li>
<li>Dropbox, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NASDAQ">DBX</a>) shares fell 17.8% to $26.74 after reporting fourth-quarter results.</li>
<li>Datasea Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dtss#NASDAQ">DTSS</a>) fell 17.1% to $8.14 after ending yesterday&rsquo;s run on the bourses with over 9% gain.</li>
<li>Inventiva S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iva#NASDAQ">IVA</a>) shares tumbled 17% to $3.30 after the company reported preliminary 2023 fiscal year financial results and issued an update on its clinical trial NATiV3.</li>
<li>MultiSensor AI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msai#NASDAQ">MSAI</a>) fell 14.8% to $2.99.</li>
<li>AMN Healthcare Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amn#NYSE">AMN</a>) fell 14.7% to $66.21 after the company reported fourth-quarter financial results and issued first-quarter revenue guidance below estimates.</li>
<li>Iris Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iren#NASDAQ">IREN</a>) fell 14% to $6.66 following second-quarter results.</li>
<li>Auddia Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/auud#NASDAQ">AUUD</a>) dipped 13.4% to $0.1982.</li>
<li>TreeHouse Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ths#NYSE">THS</a>) fell 13% to $37.18 after the company reported worse-than-expected fourth-quarter revenue results and issued FY24 guidance below estimates.</li>
<li>Yelp Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>) dipped 11% to $39.50 after the company reported mixed fourth-quarter financial results. Yelp also announced its board of directors authorized a $500 million increase to its share repurchase program.</li>
<li>Telephone and Data Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tds#NYSE">TDS</a>) fell 10.7% to $16.46 following quarterly results.</li>
<li>Carvana Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvna#NYSE">CVNA</a>) fell 8.3% to $52.79. Raymond James analyst Mitch Ingles downgraded Carvana from Market Perform to Underperform.</li>
<li>Mercer International Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/merc#NASDAQ">MERC</a>) dipped 7.8% to $7.19 following weak results.</li>
<li>Westrock Coffee Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/west#NASDAQ">WEST</a>) fell 7.7% to $10.27 after the company issued an update on preliminary 2023 full year results.</li>
<li>United States Cellular Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usm#NYSE">USM</a>) dipped 6.9% to $38.83 after the company reported fourth-quarter financial results and issued FY24 guidance.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) fell 6.2% to $4.0150. Guggenheim analyst Joseph Osha downgraded SunPower from Neutral to Sell and announced a $1 price target.</li>
</ul>
&nbsp;
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Why DoorDash Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Friday's Mid-Day Session

U.S. stocks were lower, with the Dow Jones index falling more than 100 points on Friday.
Shares of Applied Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>) rose sharply in today&rsquo;s session after the company reported better-than-expected first-quarter financial results and <a href="https://www.benzinga.com/markets/equities/24/02/37178463/applied-materials-surges-after-q1-earnings-why-the-stock-chart-is-bullish">issued second-quarter guidance</a>.
Applied Materials reported quarterly earnings of $2.13 per share which beat the analyst consensus estimate of $1.91 by 11.52%. The company reported quarterly sales of $6.71 billion, beating the analyst consensus estimate of $6.48 billion by 3.55%, and representing a 0.47% decrease over sales of $6.74 billion from the same period last year.
Applied Materials shares jumped 8.3% to $203.27 on Friday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>PRA Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/praa#NASDAQ">PRAA</a>) shares jumped 23.4% to $30.25 following upbeat results.</li>
<li>The Trade Desk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttd#NASDAQ">TTD</a>) shares gained 21% to $91.66 after the company reported mixed fourth-quarter financial results.</li>
<li>Nano-X Imaging Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nnox#NASDAQ">NNOX</a>) rose 19% to $11.31. Nvidia recently reported a 59,632 share stake in the company.</li>
<li>Backblaze, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blze#NASDAQ">BLZE</a>) jumped 17.2% to $9.55 after the company reported better-than-expected fourth-quarter financial results and issued full year 2024 revenue guidance above estimates.</li>
<li>Toast, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tost#NYSE">TOST</a>) climbed 16.6% to $22.39 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted subscription services and financial technology solutions guidance. Also the company authorized a $250 million share repurchase program.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) shares gained 15.8% to $191.79 as the company reported better-than-expected financial results for its fourth quarter on Thursday.</li>
<li>Nayax Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nyax#NASDAQ">NYAX</a>) climbed 15.6% to $30.99. Nayax is expected to report fourth-quarter earnings on Feb. 28, 2024.</li>
<li>Kinsale Capital Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knsl#NYSE">KNSL</a>) rose 13.1% to $495.00 following upbeat quarterly results.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gyre#NASDAQ">GYRE</a>) gained 11.9% to $17.88.</li>
<li>Texas Roadhouse, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) rose 10% to $147.30 after the company reported better-than-expected fourth-quarter GAAP EPS results. Also, Wedbush and Stephens &amp; Co raised their respective price targets on the stock.</li>
<li>HireRight Holdings Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrt#NYSE">HRT</a>) climbed 9.8% to $14.12 as the company agreed to be acquired by General Atlantic and Stone Point Capital.</li>
<li>Shockwave Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swav#NASDAQ">SWAV</a>) gained 9.6% to $258.98 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Sarepta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srpt#NASDAQ">SRPT</a>) surged 7.9% to $134.73 after the FDA accepted and filed the company&#39;s efficacy supplement to the Biologics License Application for ELEVIDYS.</li>
<li>Bio-Rad Laboratories, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bio#NYSE">BIO</a>) jumped 7.1% to $352.10 following upbeat earnings.</li>
<li>Vulcan Materials Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmc#NYSE">VMC</a>) gained 5.6% to $256.08 following strong results.</li>
<li>Artivion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aort#NASDAQ">AORT</a>) gained 4.1% to $18.78 following strong quarterly results.</li>
<li>DT Midstream, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dtm#NYSE">DTM</a>) rose 4% to $54.51 following upbeat earnings.</li>
</ul>
&nbsp;
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Applied Materials Posts Upbeat Earnings, Joins Texas Roadhouse, Vulcan Materials And Other Big Stocks Moving Higher On Friday

WIIM

Texas Roadhouse shares are trading higher after the company reported better-than-expected Q4 GAAP EPS results. Also, Wedbush and Stephens & Co raised their respective price targets on the stock.

Texas Roadhouse Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g37167818/texas-roadhouse-inc-announces-fourth-quarter-2023-results" rel="noreferrer noopener">fourth-quarter results FY23</a>.
Revenue rose 15.3% Y/Y to $1.164 billion, beating the consensus of $1.161 billion. Comparable restaurant sales rose 9.9% at company restaurants and 8.9% at domestic franchise restaurants.
Restaurant margin dollars grew 21.4% Y/Y to $176.7 million, led by higher sales, with restaurant margin expanding 75 basis points to 15.3% aided by higher sales.
Operating income rose 21.7% Y/Y to $83.8 million. EPS was $1.08, beating&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of $1.06</a>.&nbsp;
The company opened 12 company restaurants and seven franchise restaurants in the quarter.
Dividend: The company&#8217;s Board of Directors authorized the payment of a quarterly cash dividend per share of $0.61, representing an 11% increase from the quarterly cash dividend in 2023, payable on March 26, 2024, to shareholders of record as of March 13, 2024.
The company repurchased 40,707 shares of common stock for $4.8 million.
FY24 Outlook: Texas Roadhouse reiterated guidance for positive comparable restaurant sales growth (including the benefit of 2023 menu pricing actions), store week growth of about 8%, and capital expenditures of&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$340 million-$350 million</a>.
The company currently projects commodity cost inflation of around 5% in FY24 and plans to implement a menu price increase of about 2.2% in late March this year.
The company also reported that comparable restaurant sales at company restaurants for the first 50 days of its first quarter of fiscal 2024 increased 6.8%.
Jerry Morgan, Chief Executive Officer, said, &#8220;As we move into 2024, our development pipeline is progressing as we anticipated with 19 new company restaurants under construction. We expect a more evenly distributed opening schedule will create efficiencies and positively impact store week growth.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36049067/texas-roadhouse-downgraded-analyst-cites-balanced-risk-reward-after-recent-outperfo" rel="noreferrer noopener">Texas Roadhouse Downgraded: Analyst Cites Balanced Risk-Reward After Recent Outperformance</a>
Price Action: TXRH shares are up 8.30% at $145.00 premarket on the last check Friday.
Photo via Wikimedia Commons

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Why Is Texas Roadhouse Stock Surging Premarket Friday?

Texas Roadhouse (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txrh#NASDAQ">TXRH</a>) reported upbeat earnings for its <a href="https://www.benzinga.com/quote/TXRH/earnings">fourth quarter on Thursday</a>.
Texas Roadhouse posted GAAP earnings of $1.08 per share, beating market estimates of $1.06 per share. The company&rsquo;s quarterly sales came in at $1.16 billion, in-line with estimates, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc. said, &ldquo;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.&rdquo;
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.
<ul>
<li>Wedbush boosted the price target on Texas Roadhouse from $145 to $160. Wedbush maintained an Outperform rating.</li>
<li>Stephens &amp; Co. increased the price target on Texas Roadhouse from $105 to $135. Stephens &amp; Co. analyst Joshua Long maintained an Equal-Weight rating.</li>
</ul>
&nbsp;
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Texas Roadhouse Analysts Raise Their Forecasts Following Q4 Results

What has Wall Street been buzzing about this week? Here are the top 5 buy calls and the top 5 sell calls made by Wall Street's best analysts during the trading week of March 11-15, 2024.

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Darden Restaurants: Still Not Tasty Enough, But Earnings Might Change That

Back in the heat of COVID-19, I pitched Kura Sushi. The stock traded around $14/share then, and everyone hated the idea. Well, today, Kura Sushi is a $115/share stock. But I think I found an even better setup with GEN Restaurant Group.

GEN Restaurant – Kura Sushi 2.0

Companies in the Consumer Cyclical sector have received a lot of coverage today as analysts weigh in on Olaplex Holdings (OLPX – Research Report), ...

Analysts' Opinions Are Mixed on These Consumer Cyclical Stocks: Olaplex Holdings (OLPX), Texas Roadhouse (TXRH) and Yeti Holdings (YETI)

DGI For The DIY: 2023 Dividend Portfolio Review

In a report released on April 12, Jake Bartlett from Truist Financial maintained a Buy rating on Texas Roadhouse (TXRH – Research Report), with a p...

Texas Roadhouse (TXRH) Receives a Rating Update from a Top Analyst

In a report released today, Jeff Bernstein from Barclays maintained a Hold rating on Texas Roadhouse (TXRH – Research Report), with a price target ...

Texas Roadhouse (TXRH) Gets a Hold from Barclays

Darden Restaurants: Staying On The Sidelines Until More Positive SSS Performance

Analysts have been eager to weigh in on the Consumer Cyclical sector with new ratings on Leslie's (LESL – Research Report), Texas Roadhouse (TXRH –...

Analysts Offer Insights on Consumer Cyclical Companies: Leslie's (LESL), Texas Roadhouse (TXRH) and Cheesecake Factory (CAKE)

Wells Fargo analyst Zachary Fadem maintained a Hold rating on Texas Roadhouse (TXRH – Research Report) today and set a price target of $140.00. The...