Texas Roadhouse (NASDAQ:TXRH) Hits New 52-Week High on Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH) shares hit a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $162.00 to $178.00. Citigroup currently has a buy rating on the stock. Texas Roadhouse traded as high as $158.50 and last traded at $157.53, with a volume of 64913 shares traded. The stock had previously closed at $156.87.

TXRH has been the subject of a number of other research reports. UBS Group boosted their price target on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Benchmark began coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating for the company. Piper Sandler boosted their price target on Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Wells Fargo & Company boosted their price target on Texas Roadhouse from $125.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets boosted their price target on Texas Roadhouse from $110.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $138.76.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,382 shares of company stock valued at $1,843,145. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Comerica Bank bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth about $10,585,000. Bamco Inc. NY boosted its stake in shares of Texas Roadhouse by 16.9% during the 3rd quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator’s stock worth $28,466,000 after acquiring an additional 42,755 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Texas Roadhouse by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator’s stock worth $72,523,000 after acquiring an additional 8,219 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth about $8,748,000. Finally, Boston Trust Walden Corp boosted its stake in shares of Texas Roadhouse by 12.9% during the 4th quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after acquiring an additional 89,019 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

The company has a market cap of $10.48 billion, a P/E ratio of 34.63, a P/E/G ratio of 1.70 and a beta of 0.99. The firm has a 50 day moving average price of $151.10 and a 200-day moving average price of $126.83.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid a dividend of $0.61 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.56%. Texas Roadhouse’s dividend payout ratio is presently 53.86%.

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.