Truist Financial Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $181.00

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Truist Financial from $170.00 to $181.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other analysts have also recently commented on the company. Northcoast Research cut Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Morgan Stanley raised their target price on shares of Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. BMO Capital Markets boosted their price target on Texas Roadhouse from $110.00 to $130.00 and gave the company a market perform rating in a report on Friday, February 16th. Stephens lifted their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the company an equal weight rating in a research report on Friday. Finally, Barclays raised their price target on Texas Roadhouse from $138.00 to $160.00 and gave the stock an equal weight rating in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $152.59.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $163.61 on Friday. The firm’s 50-day moving average is $152.50 and its two-hundred day moving average is $130.02. The company has a market capitalization of $10.93 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. Texas Roadhouse has a 12-month low of $91.06 and a 12-month high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (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 analyst estimates of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. Texas Roadhouse’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, analysts forecast that Texas Roadhouse will post 5.9 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

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

Insider Activity

In other news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the sale, the president now directly owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction that occurred 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. Insiders have sold 12,382 shares of company stock worth $1,843,145 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Several large investors have recently added to or reduced their stakes in TXRH. Red Spruce Capital LLC grew its holdings in shares of Texas Roadhouse by 0.5% during the fourth quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after purchasing an additional 110 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Texas Roadhouse by 3.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after buying an additional 111 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Texas Roadhouse by 35.8% during the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after acquiring an additional 125 shares during the period. Prospector Partners LLC grew its position in shares of Texas Roadhouse by 0.4% during the third quarter. Prospector Partners LLC now owns 34,575 shares of the restaurant operator’s stock worth $3,323,000 after acquiring an additional 150 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Texas Roadhouse by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 29,360 shares of the restaurant operator’s stock worth $2,821,000 after acquiring an additional 150 shares during the period. 94.82% of the stock is currently 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.