Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $175.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective increased by Royal Bank of Canada from $165.00 to $175.00 in a report released on Friday, Benzinga reports. They currently have a sector perform rating on the restaurant operator’s stock.

A number of other research firms also recently weighed in on TXRH. Jefferies Financial Group lifted their target price on Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Morgan Stanley upped their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Northcoast Research cut Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Barclays boosted their target price on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Finally, Truist Financial lifted their price target on shares of Texas Roadhouse from $170.00 to $181.00 and gave the company a buy rating in a report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $157.77.

Texas Roadhouse Price Performance

TXRH stock opened at $167.93 on Friday. The company has a 50-day moving average of $160.97 and a two-hundred day moving average of $141.51. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $174.05.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts expect that Texas Roadhouse will post 6.02 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.44 annualized dividend and a yield of 1.45%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the sale, the chief executive officer now owns 77,847 shares in the company, valued at approximately $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 3,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $168.60, for a total transaction of $505,800.00. Following the completion of the sale, the chief technology officer now owns 17,842 shares in the company, valued at $3,008,161.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,025 shares of company stock valued at $3,251,266. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Texas Roadhouse in the first quarter valued at about $25,000. Operose Advisors LLC acquired a new position in shares of Texas Roadhouse in the 3rd quarter valued at approximately $28,000. Rise Advisors LLC acquired a new stake in Texas Roadhouse during the 1st quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. lifted its stake in Texas Roadhouse by 454.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. Finally, TFC Financial Management Inc. increased its position in shares of Texas Roadhouse by 100.0% during the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds 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.