Texas Roadhouse (NASDAQ:TXRH) Given New $182.00 Price Target at Robert W. Baird

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Robert W. Baird from $178.00 to $182.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Several other research analysts have also recently commented on the stock. Morgan Stanley increased their target price on shares of Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Texas Roadhouse from $142.00 to $145.00 and gave the company a neutral rating in a report on Tuesday, March 19th. Jefferies Financial Group upped their target price on Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a report on Tuesday, April 16th. Wedbush raised their price target on Texas Roadhouse from $170.00 to $180.00 and gave the company an outperform rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on Texas Roadhouse from $125.00 to $140.00 and gave the stock an equal weight rating in a research note on Friday, February 16th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $155.55.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $167.74 on Friday. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The stock’s 50-day moving average is $152.85 and its 200-day moving average is $130.52. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last announced 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. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $1.28 EPS. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts expect that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. 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. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Insider Transactions at Texas Roadhouse

In related news, 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 transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Curtis Warfield sold 2,365 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Texas Roadhouse by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock worth $173,694,000 after buying an additional 29,506 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Texas Roadhouse by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock worth $154,869,000 after acquiring an additional 8,392 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after acquiring an additional 370,627 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Texas Roadhouse by 26.3% in the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after purchasing an additional 205,064 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in shares of Texas Roadhouse by 7.9% during the 4th quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after purchasing an additional 69,536 shares during the last quarter. 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.