Wedbush Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $190.00

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by Wedbush from $180.00 to $190.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

Several other analysts also recently weighed in on TXRH. Evercore ISI increased their target price on Texas Roadhouse from $160.00 to $175.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Bank of America increased their target price on Texas Roadhouse from $189.00 to $205.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Royal Bank of Canada increased their target price on Texas Roadhouse from $165.00 to $175.00 and gave the company a sector perform rating in a research note on Friday, June 7th. BTIG Research increased their target price on Texas Roadhouse from $155.00 to $175.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group increased their target price on Texas Roadhouse from $120.00 to $136.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $165.23.

Texas Roadhouse Stock Performance

TXRH opened at $173.57 on Friday. The company has a market cap of $11.59 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. The stock has a 50-day moving average of $169.79 and a 200-day moving average of $153.15. Texas Roadhouse has a 52-week low of $91.06 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 EPS. On average, research analysts predict that Texas Roadhouse will post 6.05 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were issued a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.41%. Texas Roadhouse’s payout ratio is presently 49.39%.

Insider Transactions at Texas Roadhouse

In other news, Director Curtis Warfield sold 1,025 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Hernan E. Mujica sold 3,000 shares of the company’s 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 in the company, valued at approximately $3,008,161.20. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $165.82, for a total transaction of $169,965.50. Following the transaction, the director now owns 12,372 shares in the company, valued at approximately $2,051,525.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,025 shares of company stock valued at $3,251,266. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Roadhouse during the 2nd quarter worth about $25,000. LRI Investments LLC bought a new stake in Texas Roadhouse during the 1st quarter worth about $25,000. Rise Advisors LLC bought a new stake in Texas Roadhouse during the 1st quarter worth about $32,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Texas Roadhouse by 454.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds 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.