Texas Roadhouse (NASDAQ:TXRH) Sets New 12-Month High Following Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price hit a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $162.00 to $178.00. Citigroup currently has a buy rating on the stock. Texas Roadhouse traded as high as $158.50 and last traded at $157.53, with a volume of 64913 shares changing hands. The stock had previously closed at $156.87.

TXRH has been the subject of a number of other reports. UBS Group upped their price target on Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Piper Sandler upped their price target on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. BMO Capital Markets upped their price target on 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 upped their price target on Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $138.76.

Insider Transactions at Texas Roadhouse

In other news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Curtis Warfield sold 2,365 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total value of $351,628.20. Following the sale, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Donna E. Epps sold 670 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock worth $1,843,145 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of TXRH. Norges Bank acquired a new stake in Texas Roadhouse in the fourth quarter valued at $78,544,000. Balyasny Asset Management L.P. raised its stake in Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after buying an additional 441,069 shares in the last quarter. Invesco Ltd. raised its stake in Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after buying an additional 370,627 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Texas Roadhouse by 60.9% in the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after buying an additional 294,425 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in Texas Roadhouse in the fourth quarter valued at $28,724,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Price Performance

The stock has a 50 day simple moving average of $151.10 and a two-hundred day simple moving average of $126.83. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.70 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. Equities research analysts predict that Texas Roadhouse, Inc. will post 5.77 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.56%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 53.86%.

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.