Texas Roadhouse (NASDAQ:TXRH) Hits New 1-Year High Following Analyst Upgrade

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) hit a new 52-week high during trading on Tuesday after Evercore ISI raised their price target on the stock from $195.00 to $200.00. Evercore ISI currently has an outperform rating on the stock. Texas Roadhouse traded as high as $181.97 and last traded at $181.49, with a volume of 168690 shares. The stock had previously closed at $176.05.

Several other analysts have also recently commented on TXRH. Citigroup increased their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Truist Financial increased their price objective on Texas Roadhouse from $196.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stephens boosted their target price on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Guggenheim upped their price target on Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Bank of America lifted their price objective on Texas Roadhouse from $189.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.15.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently made changes to their positions in the stock. Ontario Teachers Pension Plan Board bought a new position in Texas Roadhouse during the 1st quarter worth about $2,338,000. Los Angeles Capital Management LLC raised its position in Texas Roadhouse by 158.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock valued at $3,477,000 after buying an additional 13,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Texas Roadhouse in the 1st quarter valued at approximately $4,522,000. Sei Investments Co. boosted its position in Texas Roadhouse by 31.6% during the 1st quarter. Sei Investments Co. now owns 73,707 shares of the restaurant operator’s stock worth $11,385,000 after acquiring an additional 17,691 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Texas Roadhouse by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after acquiring an additional 53,419 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Up 0.6 %

The stock’s fifty day moving average price is $170.45 and its 200-day moving average price is $166.93. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 1.59 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $1.22 EPS. Texas Roadhouse’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts anticipate that Texas Roadhouse, Inc. will post 6.34 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio is currently 44.28%.

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.