Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $185.00 at Royal Bank of Canada

Texas Roadhouse (NASDAQ:TXRH) had its price objective increased by Royal Bank of Canada from $175.00 to $185.00 in a research note released on Friday, Benzinga reports. They currently have a sector perform rating on the restaurant operator’s stock.

A number of other brokerages also recently weighed in on TXRH. BMO Capital Markets upped their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a report on Friday. Robert W. Baird raised their target price on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a report on Friday. Wedbush reissued an “outperform” rating and set a $190.00 price target on shares of Texas Roadhouse in a report on Tuesday, September 24th. Barclays upped their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $188.11 on Friday. The stock’s fifty day moving average price is $172.41 and its two-hundred day moving average price is $168.59. The firm has a market cap of $12.54 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. Texas Roadhouse has a one year low of $98.18 and a one year high of $189.97.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts expect that Texas Roadhouse will post 6.38 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.30%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s payout ratio is presently 41.92%.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Roadhouse during the 2nd quarter worth approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of Texas Roadhouse during the second quarter worth $25,000. LRI Investments LLC bought a new position in Texas Roadhouse during the first quarter worth $25,000. McClarren Financial Advisors Inc. lifted its holdings in Texas Roadhouse by 4,175.0% in the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 167 shares during the period. Finally, PSI Advisors LLC boosted its position in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

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.