Truist Financial Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $207.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective boosted by Truist Financial from $202.00 to $207.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

TXRH has been the topic of a number of other reports. Guggenheim raised their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Bank of America raised their price target on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Wedbush reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, September 24th. Evercore ISI raised their target price on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird upped their price target on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $188.00.

Texas Roadhouse Price Performance

TXRH opened at $187.38 on Friday. The business has a fifty day moving average price of $172.41 and a 200 day moving average price of $168.45. Texas Roadhouse has a 12 month low of $93.79 and a 12 month high of $189.97. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 1.61 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, research analysts anticipate that Texas Roadhouse will post 6.37 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were paid a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.30%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Institutional Trading of Texas Roadhouse

Several hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System raised its holdings in Texas Roadhouse by 0.8% during the third quarter. New York State Teachers Retirement System now owns 90,698 shares of the restaurant operator’s stock worth $16,017,000 after purchasing an additional 760 shares in the last quarter. abrdn plc raised its stake in shares of Texas Roadhouse by 33.8% during the 3rd quarter. abrdn plc now owns 212,039 shares of the restaurant operator’s stock worth $37,446,000 after buying an additional 53,549 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Texas Roadhouse by 17.5% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,295 shares of the restaurant operator’s stock valued at $958,000 after buying an additional 789 shares during the period. Custom Index Systems LLC purchased a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $418,000. Finally, State of Alaska Department of Revenue grew its holdings in Texas Roadhouse by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 7,767 shares of the restaurant operator’s stock worth $1,371,000 after acquiring an additional 525 shares during the period. 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.