Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $185.00 by Analysts at Truist Financial

Texas Roadhouse (NASDAQ:TXRH) had its price objective increased by Truist Financial from $183.00 to $185.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

TXRH has been the subject of several other research reports. Wells Fargo & Company increased their price objective on shares of Texas Roadhouse from $140.00 to $165.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Stephens raised their price target on shares of Texas Roadhouse from $150.00 to $164.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Benchmark assumed coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They set a hold rating for the company. BTIG Research raised their price target on shares of Texas Roadhouse from $155.00 to $175.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus raised their price target on shares of Texas Roadhouse from $155.00 to $175.00 and gave the company a hold rating in a research note on Monday, May 6th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $157.95.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $167.51 on Tuesday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.62 and a beta of 1.01. The firm has a 50 day simple moving average of $169.07 and a 200 day simple moving average of $150.27. Texas Roadhouse has a one year low of $91.06 and a one year high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating the consensus estimate of $1.65 by $0.04. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. As a group, analysts expect that Texas Roadhouse will post 6.03 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, June 12th. Texas Roadhouse’s payout ratio is 49.39%.

Insiders Place Their Bets

In other news, CTO Hernan E. Mujica sold 3,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $168.60, for a total transaction of $505,800.00. Following the completion of the transaction, the chief technology officer now directly owns 17,842 shares in the company, valued at $3,008,161.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares in the company, valued at $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 3,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $168.60, for a total transaction of $505,800.00. Following the transaction, the chief technology officer now owns 17,842 shares of the company’s stock, valued at $3,008,161.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,025 shares of company stock worth $3,251,266. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Red Spruce Capital LLC lifted its position 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 in the last quarter. Avior Wealth Management LLC lifted its position in shares of Texas Roadhouse by 3.2% during the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after purchasing an additional 111 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Texas Roadhouse by 4.8% during the first quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock valued at $414,000 after purchasing an additional 122 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Roadhouse during the second quarter valued at about $25,000. Finally, Bridge City Capital LLC lifted its position in shares of Texas Roadhouse by 0.8% during the first quarter. Bridge City Capital LLC now owns 19,245 shares of the restaurant operator’s stock valued at $2,973,000 after purchasing an additional 150 shares in 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.