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

Texas Roadhouse (NASDAQ:TXRH) had its price objective increased by BTIG Research from $175.00 to $190.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

TXRH has been the topic of several other research reports. Barclays lifted their target price on Texas Roadhouse from $138.00 to $160.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on shares of Texas Roadhouse from $145.00 to $184.00 and gave the stock a neutral rating in a research note on Tuesday, May 28th. 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 report on Monday, May 6th. Truist Financial upped their price objective on shares of Texas Roadhouse from $185.00 to $196.00 and gave the stock a buy rating in a research report on Friday. Finally, Stephens increased 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 note on Friday, May 3rd. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Texas Roadhouse presently has an average rating of Hold and an average price target of $169.86.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $172.44 on Friday. The company has a 50-day moving average price of $169.83 and a 200-day moving average price of $154.90. The stock has a market capitalization of $11.52 billion, a P/E ratio of 34.91, a P/E/G ratio of 1.58 and a beta of 1.01. Texas Roadhouse has a 1 year low of $91.06 and a 1 year high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.15. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. As a group, equities research analysts anticipate that Texas Roadhouse will post 6.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Insider Transactions at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on 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 is accessible through this link. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction on 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 owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Curtis Warfield sold 1,025 shares of the stock in a transaction 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 sale, 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. Insiders sold 19,025 shares of company stock worth $3,251,266 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Roadhouse in the second quarter worth about $25,000. LRI Investments LLC purchased a new stake in Texas Roadhouse in the 1st quarter worth approximately $25,000. McClarren Financial Advisors Inc. boosted its holdings in Texas Roadhouse by 4,175.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Rise Advisors LLC purchased a new position in shares of Texas Roadhouse during the 1st quarter valued at $32,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of 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 in the last quarter. Hedge funds and other 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.