Texas Roadhouse (NASDAQ:TXRH) Reaches New 1-Year High – Here’s Why

Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high during trading on Wednesday . The company traded as high as $201.35 and last traded at $201.26, with a volume of 328458 shares traded. The stock had previously closed at $196.19.

Analyst Ratings Changes

A number of research analysts recently issued reports on TXRH shares. Wells Fargo & Company increased their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Citigroup lifted their target price on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Evercore ISI lifted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and an average price target of $189.00.

Texas Roadhouse Price Performance

The company has a 50 day moving average of $178.22 and a 200-day moving average of $171.99. The company has a market cap of $13.38 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Research analysts anticipate that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.92%.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter valued at about $998,000. SG Americas Securities LLC lifted its stake in shares of Texas Roadhouse by 234.5% in the 1st quarter. SG Americas Securities LLC now owns 6,342 shares of the restaurant operator’s stock valued at $980,000 after acquiring an additional 4,446 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Texas Roadhouse by 31.6% in the 1st quarter. Sei Investments Co. now owns 73,707 shares of the restaurant operator’s stock valued at $11,385,000 after acquiring an additional 17,691 shares during the last quarter. US Bancorp DE lifted its stake in shares of Texas Roadhouse by 9.3% in the 1st quarter. US Bancorp DE now owns 12,432 shares of the restaurant operator’s stock valued at $1,920,000 after acquiring an additional 1,063 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Texas Roadhouse by 3.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,959 shares of the restaurant operator’s stock valued at $5,246,000 after acquiring an additional 1,271 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

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.