Recent Investment Analysts’ Ratings Updates for Texas Roadhouse (TXRH)

A number of research firms have changed their ratings and price targets for Texas Roadhouse (NASDAQ: TXRH):

• 4/16/2024 – Texas Roadhouse had its price target raised by analysts at Jefferies Financial Group Inc. from $120.00 to $136.00. They now have a “hold” rating on the stock.
• 4/12/2024 – Texas Roadhouse had its price target raised by analysts at Morgan Stanley from $135.00 to $145.00. They now have an “equal weight” rating on the stock.
• 4/12/2024 – Texas Roadhouse is now covered by analysts at Stephens. They set an “equal weight” rating and a $150.00 price target on the stock.
• 4/10/2024 – Texas Roadhouse is now covered by analysts at Benchmark Co.. They set a “hold” rating on the stock.
• 4/5/2024 – Texas Roadhouse had its price target raised by analysts at Wedbush from $160.00 to $170.00. They now have an “outperform” rating on the stock.
• 4/2/2024 – Texas Roadhouse had its price target raised by analysts at Truist Financial Co. from $152.00 to $168.00. They now have a “buy” rating on the stock.
• 3/19/2024 – Texas Roadhouse had its price target raised by analysts at JPMorgan Chase & Co. from $142.00 to $145.00. They now have a “neutral” rating on the stock.
• 3/13/2024 – Texas Roadhouse was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $175.00 price target on the stock, up previously from $160.00.
• 2/26/2024 – Texas Roadhouse had its price target raised by analysts at JPMorgan Chase & Co. from $120.00 to $142.00. They now have a “neutral” rating on the stock.
• 2/20/2024 – Texas Roadhouse had its price target raised by analysts at Piper Sandler from $110.00 to $136.00. They now have a “neutral” rating on the stock.
• 2/20/2024 – Texas Roadhouse was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded down $0.11 on Friday, hitting $150.35. The stock had a trading volume of 284,418 shares, compared to its average volume of 782,800. The stock has a 50 day moving average of $148.97 and a 200 day moving average of $124.80. The firm has a market capitalization of $10.05 billion, a P/E ratio of 33.19, a PEG ratio of 1.64 and a beta of 0.99. Texas Roadhouse, Inc. has a twelve month low of $91.06 and a twelve month high of $157.12.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. Equities analysts expect that Texas Roadhouse, Inc. will post 5.74 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 53.86%.

Insiders Place Their Bets

In other news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the sale, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Texas Roadhouse by 82.5% during the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock worth $254,969,000 after buying an additional 1,066,581 shares during the period. Morgan Stanley boosted its stake in Texas Roadhouse by 154.8% during the fourth quarter. Morgan Stanley now owns 1,064,802 shares of the restaurant operator’s stock worth $96,844,000 after acquiring an additional 646,982 shares in the last quarter. Norges Bank acquired a new stake in Texas Roadhouse in the fourth quarter worth $78,544,000. BlackRock Inc. increased its stake in Texas Roadhouse by 7.8% in the first quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock valued at $680,519,000 after purchasing an additional 585,944 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Texas Roadhouse by 4,434,627.3% during the first quarter. Balyasny Asset Management L.P. now owns 487,820 shares of the restaurant operator’s stock valued at $52,714,000 after purchasing an additional 487,809 shares during the period. 94.82% of the stock is owned by institutional investors.

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.