Texas Roadhouse (NASDAQ:TXRH) Reaches New 52-Week High – What’s Next?

Texas Roadhouse, Inc. (NASDAQ:TXRH) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $197.08 and last traded at $197.6510, with a volume of 536221 shares trading hands. The stock had previously closed at $189.86.

Analyst Ratings Changes

A number of research analysts have recently commented on TXRH shares. Piper Sandler upped their price objective on shares of Texas Roadhouse from $190.00 to $192.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Citigroup lowered their target price on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $201.00 price target on shares of Texas Roadhouse in a research report on Friday, May 8th. TD Cowen increased their price target on shares of Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Barclays decreased their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $196.05.

Texas Roadhouse Stock Up 4.1%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The firm has a market cap of $12.98 billion, a PE ratio of 31.56, a PEG ratio of 2.02 and a beta of 0.78. The stock has a fifty day moving average price of $179.36 and a 200-day moving average price of $176.14.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. Texas Roadhouse’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. Research analysts expect that Texas Roadhouse, Inc. will post 6.43 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Insiders Place Their Bets

In related news, Director Curtis Warfield sold 2,640 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $183.05, for a total value of $483,252.00. Following the completion of the sale, the director directly owned 5,361 shares in the company, valued at approximately $981,331.05. This represents a 33.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the sale, the insider owned 10,326 shares of the company’s stock, valued at approximately $1,841,538.84. This represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,154 shares of company stock worth $1,115,864. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors and hedge funds have recently modified their holdings of the stock. Oak Thistle LLC bought a new stake in Texas Roadhouse in the fourth quarter valued at about $1,553,000. Stephens Investment Management Group LLC lifted its holdings in Texas Roadhouse by 98.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock worth $61,457,000 after buying an additional 183,422 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Texas Roadhouse in the 4th quarter worth approximately $977,000. Fort Washington Investment Advisors Inc. OH grew its position in shares of Texas Roadhouse by 12.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 139,245 shares of the restaurant operator’s stock worth $23,115,000 after acquiring an additional 15,734 shares in the last quarter. Finally, Amica Mutual Insurance Co. bought a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $989,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.