Bank of America Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $234.00

Texas Roadhouse (NASDAQ:TXRH) had its price target boosted by Bank of America from $206.00 to $234.00 in a report issued on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the restaurant operator’s stock.

Other research analysts also recently issued reports about the company. Evercore ISI boosted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Wedbush restated an “outperform” rating and set a $190.00 price target on shares of Texas Roadhouse in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Truist Financial increased their target price on shares of Texas Roadhouse from $196.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $178.60.

Texas Roadhouse Price Performance

TXRH stock opened at $180.43 on Tuesday. The company has a market capitalization of $12.03 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. Texas Roadhouse has a 12 month low of $93.79 and a 12 month high of $184.19. The firm’s fifty day simple moving average is $171.56 and its 200-day simple moving average is $167.89.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.15. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, sell-side analysts forecast that Texas Roadhouse will post 6.35 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio is currently 44.28%.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new position in shares of Texas Roadhouse in the fourth quarter worth about $404,000. Global Assets Advisory LLC acquired a new stake in Texas Roadhouse in the 1st quarter valued at about $2,565,000. Janiczek Wealth Management LLC lifted its stake in Texas Roadhouse by 13.5% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,607 shares of the restaurant operator’s stock worth $248,000 after purchasing an additional 191 shares in the last quarter. Chatham Capital Group Inc. boosted its holdings in shares of Texas Roadhouse by 11.5% during the 1st quarter. Chatham Capital Group Inc. now owns 23,120 shares of the restaurant operator’s stock worth $3,571,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Texas Roadhouse by 54.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after purchasing an additional 29,833 shares during the last quarter. Institutional investors and hedge funds 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.