Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Wedbush from $170.00 to $180.00 in a report published on Friday, Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Texas Roadhouse’s Q2 2024 earnings at $1.54 EPS, Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

A number of other research firms have also commented on TXRH. Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an equal weight rating in a research note on Friday, February 16th. UBS Group lifted their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a buy rating in a research note on Friday, February 16th. Citigroup lifted their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Stephens assumed coverage on shares of Texas Roadhouse in a research note on Friday, April 12th. They issued an equal weight rating and a $150.00 price objective on the stock. Finally, BMO Capital Markets lifted their price objective on shares of Texas Roadhouse from $110.00 to $130.00 and gave the company a market perform rating in a research note on Friday, February 16th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $152.59.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $163.61 on Friday. The company’s fifty day moving average price is $152.50 and its 200 day moving average price is $130.02. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $170.39. The firm has a market capitalization 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 announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $1.28 EPS. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is currently 49.39%.

Insider Buying and Selling

In related news, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the sale, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,382 shares of company stock valued at $1,843,145. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently made changes to their positions in the business. Operose Advisors LLC acquired a new stake in shares of Texas Roadhouse in the third quarter worth $28,000. Rise Advisors LLC acquired a new stake in shares of Texas Roadhouse in the first quarter worth $32,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 200 shares during the period. Fifth Third Bancorp boosted its stake in shares of Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares during the period. Finally, TFC Financial Management Inc. boosted its stake in shares of Texas Roadhouse by 100.0% in the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

About Texas Roadhouse

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.