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

Texas Roadhouse (NASDAQ:TXRH) had its price objective upped by BTIG Research from $155.00 to $175.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts also recently weighed in on the company. Robert W. Baird raised their price target on Texas Roadhouse from $178.00 to $182.00 and gave the stock an outperform rating in a research report on Friday. Morgan Stanley lifted their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock an equal weight rating in a research report on Friday. Truist Financial increased their price objective on shares of Texas Roadhouse from $170.00 to $181.00 and gave the stock a buy rating in a research report on Friday. Citigroup lifted their target price on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Piper Sandler boosted their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $151.30.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded up $5.71 during mid-day trading on Friday, reaching $163.61. The company had a trading volume of 1,640,850 shares, compared to its average volume of 835,599. The stock’s 50-day simple moving average is $152.50 and its 200-day simple moving average is $129.54. The company has a market capitalization of $10.93 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.71 and a beta of 1.00. Texas Roadhouse has a 1 year low of $91.06 and a 1 year high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. Texas Roadhouse’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, equities analysts forecast that Texas Roadhouse will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid 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 was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio is 49.39%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares in the company, valued at $2,290,218.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,382 shares of company stock worth $1,843,145. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds have recently made changes to their positions in the business. Operose Advisors LLC bought a new position in Texas Roadhouse during the 3rd quarter valued at $28,000. Rise Advisors LLC acquired a new stake in shares of Texas Roadhouse in the first quarter valued at $32,000. China Universal Asset Management Co. Ltd. boosted its stake in Texas Roadhouse by 454.5% during 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. Fifth Third Bancorp grew its holdings in Texas Roadhouse by 35.8% during the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 125 shares during the period. Finally, TFC Financial Management Inc. raised its position in Texas Roadhouse by 100.0% in 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 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.