Texas Roadhouse (NASDAQ:TXRH) Given New $184.00 Price Target at JPMorgan Chase & Co.

Texas Roadhouse (NASDAQ:TXRH) had its price target cut by JPMorgan Chase & Co. from $185.00 to $184.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other equities analysts have also issued reports on TXRH. Barclays reduced their price target on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Truist Financial cut their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Citigroup raised their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Guggenheim cut their price target on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.91.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $170.75 on Thursday. Texas Roadhouse has a one year low of $146.75 and a one year high of $206.04. The firm’s 50 day simple moving average is $176.96 and its two-hundred day simple moving average is $181.13. The stock has a market capitalization of $11.35 billion, a P/E ratio of 26.39, a PEG ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities analysts expect that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.68 dividend. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s payout ratio is currently 42.04%.

Insiders Place Their Bets

In related news, Director Curtis Warfield sold 3,281 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the transaction, the director now owns 6,801 shares in the company, valued at $1,249,139.67. The trade was a 32.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $168.26, for a total transaction of $454,302.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Texas Roadhouse by 194.9% during the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock valued at $11,962,000 after acquiring an additional 44,768 shares during the period. OneDigital Investment Advisors LLC lifted its position in Texas Roadhouse by 37.3% during the third quarter. OneDigital Investment Advisors LLC now owns 3,177 shares of the restaurant operator’s stock valued at $561,000 after purchasing an additional 863 shares during the period. CIBC Asset Management Inc lifted its position in Texas Roadhouse by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after purchasing an additional 62 shares during the period. Natixis Advisors LLC lifted its position in Texas Roadhouse by 3.5% during the third quarter. Natixis Advisors LLC now owns 31,832 shares of the restaurant operator’s stock valued at $5,622,000 after purchasing an additional 1,066 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in Texas Roadhouse by 7.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,493 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 166 shares during the period. 94.82% of the stock is owned by institutional investors.

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.