Texas Roadhouse (NASDAQ:TXRH) Reaches New 12-Month High at $161.58

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $161.58 and last traded at $161.16, with a volume of 212900 shares. The stock had previously closed at $159.21.

Analyst Ratings Changes

TXRH has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Piper Sandler boosted their target price on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Wells Fargo & Company upped their price target on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Benchmark initiated coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating for the company. Finally, UBS Group lifted their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $138.76.

Texas Roadhouse Stock Up 1.0 %

The firm has a market capitalization of $10.74 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The firm’s 50-day simple moving average is $151.53 and its 200-day simple moving average is $128.18.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. As a group, analysts expect that Texas Roadhouse, Inc. will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio is currently 53.86%.

Insider Activity at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,064 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the sale, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the transaction, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last three months. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Texas Roadhouse in the 4th quarter worth about $78,544,000. Balyasny Asset Management L.P. boosted its holdings in shares of Texas Roadhouse by 4,150.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after acquiring an additional 441,069 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Texas Roadhouse by 40.7% during the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after acquiring an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Texas Roadhouse by 60.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after acquiring an additional 294,425 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Texas Roadhouse during the 4th quarter valued at about $28,724,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.