Citigroup Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $178.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by Citigroup from $162.00 to $178.00 in a research report report published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley raised their price target on shares of Texas Roadhouse from $135.00 to $145.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Truist Financial raised their price target 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. Benchmark assumed coverage on shares of Texas Roadhouse in a research report on Wednesday, April 10th. They issued a hold rating for the company. BMO Capital Markets raised their price target on shares of Texas Roadhouse from $110.00 to $130.00 and gave the company a market perform rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $125.00 to $140.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $138.76.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $156.76 on Wednesday. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $158.54. The firm has a 50 day moving average price of $150.64 and a 200 day moving average price of $126.62. The company has a market capitalization of $10.48 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that Texas Roadhouse will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were paid a $0.61 dividend. 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. This represents a $2.44 dividend on an annualized basis and a yield of 1.56%. Texas Roadhouse’s payout ratio is currently 53.86%.

Insider Buying and Selling at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the transaction, the president now directly owns 15,261 shares in the company, valued at $2,290,218.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $459,814.48. Following 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 have sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXRH. Operose Advisors LLC acquired a new position in Texas Roadhouse during the third quarter worth about $28,000. Rise Advisors LLC acquired a new position in Texas Roadhouse during the first quarter worth about $32,000. Fifth Third Bancorp grew its position 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 buying an additional 125 shares during the period. TFC Financial Management Inc. grew its position in Texas Roadhouse by 100.0% during the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after buying an additional 290 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Texas Roadhouse during the fourth quarter worth about $81,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.