Evercore ISI Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $175.00

Texas Roadhouse (NASDAQ:TXRH) had its price target hoisted by Evercore ISI from $160.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other analysts have also weighed in on the stock. Stephens upped their target price on shares of Texas Roadhouse from $150.00 to $164.00 and gave the stock an equal weight rating in a report on Friday. JPMorgan Chase & Co. upped their target price on Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Truist Financial boosted their price target on shares of Texas Roadhouse from $170.00 to $181.00 and gave the stock a buy rating in a research note on Friday. UBS Group raised their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price objective on Texas Roadhouse from $145.00 to $165.00 and gave the company a sector perform rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $155.55.

Texas Roadhouse Stock Up 2.5 %

Shares of Texas Roadhouse stock opened at $167.74 on Friday. The company has a market cap of $11.21 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. Texas Roadhouse has a 52 week low of $91.06 and a 52 week high of $170.39. The business has a 50 day moving average price of $152.85 and a 200-day moving average price of $130.52.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate 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 period last year, the business posted $1.28 earnings per share. As a group, research analysts anticipate that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. Texas Roadhouse’s payout ratio is presently 49.39%.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the transaction, the insider now owns 8,500 shares in the company, valued at $1,266,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the transaction, the insider now owns 8,500 shares in the company, valued at $1,266,925. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock worth $1,843,145 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several large investors have recently modified their holdings of TXRH. Commonwealth Equity Services LLC grew its position in Texas Roadhouse by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock worth $630,000 after purchasing an additional 203 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Texas Roadhouse by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock worth $1,404,000 after acquiring an additional 1,977 shares during the period. Advisor Partners II LLC purchased a new stake in Texas Roadhouse in the third quarter valued at $213,000. Park Avenue Securities LLC purchased a new position in Texas Roadhouse during the third quarter worth approximately $474,000. Finally, Inspire Investing LLC grew its holdings in Texas Roadhouse by 12.8% in the third quarter. Inspire Investing LLC now owns 13,018 shares of the restaurant operator’s stock valued at $1,251,000 after purchasing an additional 1,477 shares during the period. 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.