Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $145.00

Texas Roadhouse (NASDAQ:TXRH) had its price target hoisted by BMO Capital Markets from $130.00 to $145.00 in a research note published on Friday, Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

Several other research firms have also recently weighed in on TXRH. Piper Sandler increased their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a neutral rating in a research note on Tuesday, February 20th. Wedbush lifted their target price on Texas Roadhouse from $170.00 to $180.00 and gave the company an outperform rating in a research report on Friday. Northcoast Research cut Texas Roadhouse from a buy rating to a neutral rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Texas Roadhouse from $142.00 to $145.00 and gave the company a neutral rating in a research report on Tuesday, March 19th. Finally, Citigroup lifted their price target on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $152.59.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $163.61 on Friday. The firm has a fifty day moving average of $152.50 and a 200 day moving average of $130.02. The firm has a market cap of $10.93 billion, a PE ratio of 33.12, a PEG ratio of 1.73 and a beta of 1.00. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last posted 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 firm 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 posted $1.28 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts predict that Texas Roadhouse will post 5.9 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a $0.61 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Insider Activity

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at approximately $621,175.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock valued at $1,843,145 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TXRH. Norges Bank purchased a new stake in shares of Texas Roadhouse during the 4th quarter worth $78,544,000. Balyasny Asset Management L.P. lifted its stake in shares of Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after purchasing an additional 441,069 shares during the period. Invesco Ltd. grew its position in Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after buying an additional 370,627 shares during the period. Qube Research & Technologies Ltd increased its holdings in Texas Roadhouse by 60.9% in the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after buying an additional 294,425 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at approximately $28,724,000. 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.