Bank of America Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $205.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by Bank of America from $189.00 to $205.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

TXRH has been the topic of several other reports. BTIG Research increased their price target on shares of Texas Roadhouse from $155.00 to $175.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Evercore ISI increased their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Citigroup raised their price objective on shares of Texas Roadhouse from $178.00 to $183.00 and gave the company a buy rating in a research report on Friday, May 3rd. Stephens raised their price objective on shares of Texas Roadhouse from $150.00 to $164.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Finally, Morgan Stanley raised their price objective on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company an equal weight rating in a research report on Tuesday. Thirteen research 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 an average price target of $165.23.

Texas Roadhouse Stock Up 1.7 %

Shares of Texas Roadhouse stock opened at $171.44 on Wednesday. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company’s 50 day moving average is $169.62 and its 200 day moving average is $152.28. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Texas Roadhouse will post 6.05 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio is 49.39%.

Insider Activity

In other news, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the sale, the director now directly owns 12,372 shares in the company, valued at approximately $2,051,525.04. 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 the company’s 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 sale, the chief executive officer now directly owns 77,847 shares in the company, valued at approximately $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the sale, the director now owns 12,372 shares in the company, valued at $2,051,525.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,025 shares of company stock worth $3,251,266. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Texas Roadhouse during the 1st quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Roadhouse during the 2nd quarter valued at about $25,000. Rise Advisors LLC bought a new position in Texas Roadhouse during the 1st quarter valued at about $32,000. China Universal Asset Management Co. Ltd. grew its holdings in Texas Roadhouse by 454.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Finally, TFC Financial Management Inc. grew its holdings in Texas Roadhouse by 100.0% during the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Company Profile

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.