Texas Roadhouse (NASDAQ:TXRH) Given New $183.00 Price Target at Truist Financial

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by Truist Financial from $181.00 to $183.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other research analysts have also commented on TXRH. Robert W. Baird upped their price target on shares of Texas Roadhouse from $178.00 to $182.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Benchmark initiated coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They issued a hold rating on the stock. Jefferies Financial Group upped their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a hold rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Texas Roadhouse from $145.00 to $184.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company upped their price target on shares of Texas Roadhouse from $140.00 to $165.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $157.86.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $170.36 on Monday. The firm has a market capitalization of $11.38 billion, a PE ratio of 34.49, a P/E/G ratio of 1.67 and a beta of 1.01. The company’s 50-day moving average is $167.45 and its 200-day moving average is $147.94. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data 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. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. As a group, analysts expect that Texas Roadhouse will post 6.02 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.43%. The ex-dividend date was Wednesday, June 12th. Texas Roadhouse’s payout ratio is 49.39%.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the transaction, 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 SEC, which is available through the SEC website. In other Texas Roadhouse 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 value of $2,575,500.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the completion of the transaction, the director now owns 12,372 shares of the company’s stock, valued at $2,051,525.04. The disclosure for this sale can be found here. Insiders sold a total of 19,025 shares of company stock valued at $3,251,266 in the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Texas Roadhouse during the fourth quarter worth $78,544,000. Balyasny Asset Management L.P. grew its holdings in 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 worth $55,211,000 after acquiring an additional 441,069 shares during the period. Armistice Capital LLC bought a new position in shares of Texas Roadhouse in the 4th quarter worth about $28,724,000. Bank of Nova Scotia lifted its stake in shares of Texas Roadhouse by 5,135.0% in the 4th quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock valued at $27,200,000 after purchasing an additional 218,287 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Texas Roadhouse by 2,985.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock valued at $25,481,000 after purchasing an additional 201,714 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.