Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $160.00

Texas Roadhouse (NASDAQ:TXRH) had its target price boosted by Barclays from $138.00 to $160.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

TXRH has been the topic of several other research reports. Truist Financial raised their price objective on shares of Texas Roadhouse from $152.00 to $168.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Wedbush lifted their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company an outperform rating in a research note on Friday. BMO Capital Markets increased their target price on shares of Texas Roadhouse from $110.00 to $130.00 and gave the stock a market perform rating in a research report on Friday, February 16th. Benchmark started coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a hold rating for the company. Finally, Morgan Stanley upped their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $152.59.

Texas Roadhouse Stock Performance

TXRH stock opened at $163.61 on Friday. The firm has a 50 day simple moving average of $152.50 and a 200 day simple moving average of $130.02. Texas Roadhouse has a 52 week low of $91.06 and a 52 week high of $170.39. The stock has a market cap of $10.93 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.73 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Sell-side analysts predict that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 49.39%.

Insiders Place Their Bets

In related news, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now owns 8,500 shares in the company, valued at approximately $1,266,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently modified their holdings of TXRH. Texas Permanent School Fund Corp grew its stake in shares of Texas Roadhouse by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 58,448 shares of the restaurant operator’s stock worth $9,028,000 after purchasing an additional 757 shares during the period. Larson Financial Group LLC boosted its holdings in Texas Roadhouse by 997.3% during the first quarter. Larson Financial Group LLC now owns 1,613 shares of the restaurant operator’s stock worth $249,000 after buying an additional 1,466 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Texas Roadhouse during the 1st quarter worth about $1,707,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Texas Roadhouse during the 1st quarter worth about $1,011,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Texas Roadhouse in the 1st quarter valued at about $183,000. 94.82% of the stock is owned by institutional investors.

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.