Wedbush Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $95.00

Texas Roadhouse (NASDAQ:TXRHGet Rating) had its price target decreased by Wedbush from $100.00 to $95.00 in a research report report published on Friday, The Fly reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Texas Roadhouse’s Q3 2022 earnings at $0.74 EPS, Q4 2022 earnings at $0.80 EPS, FY2022 earnings at $3.70 EPS, Q1 2023 earnings at $1.01 EPS, Q2 2023 earnings at $1.07 EPS, Q3 2023 earnings at $1.01 EPS, Q4 2023 earnings at $1.05 EPS and FY2023 earnings at $4.14 EPS.

Several other brokerages have also recently weighed in on TXRH. StockNews.com cut shares of Texas Roadhouse from a buy rating to a hold rating in a research report on Friday, June 10th. UBS Group dropped their price target on shares of Texas Roadhouse from $108.00 to $104.00 in a research report on Tuesday, July 26th. Barclays dropped their price target on shares of Texas Roadhouse from $92.00 to $87.00 and set an equal weight rating on the stock in a research report on Thursday, June 9th. Morgan Stanley dropped their price target on shares of Texas Roadhouse from $97.00 to $89.00 and set an equal weight rating on the stock in a research report on Monday, July 18th. Finally, Northcoast Research assumed coverage on shares of Texas Roadhouse in a research report on Wednesday, May 4th. They set a buy rating and a $108.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of Moderate Buy and a consensus target price of $101.91.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $87.22 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.79 and a quick ratio of 0.73. The stock has a 50-day moving average of $78.02 and a 200-day moving average of $81.49. The company has a market cap of $5.95 billion, a PE ratio of 23.77, a P/E/G ratio of 1.55 and a beta of 0.93. Texas Roadhouse has a one year low of $68.58 and a one year high of $97.43.

Texas Roadhouse (NASDAQ:TXRHGet Rating) last issued its earnings results on Thursday, July 28th. The restaurant operator reported $1.07 EPS for the quarter, beating the consensus estimate of $1.03 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Texas Roadhouse had a return on equity of 24.11% and a net margin of 7.02%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. On average, equities research analysts predict that Texas Roadhouse will post 3.83 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Wednesday, June 8th were given a dividend of $0.46 per share. The ex-dividend date was Tuesday, June 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.11%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 50.14%.

Insider Activity

In other news, insider Hernan E. Mujica sold 2,000 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $78.49, for a total transaction of $156,980.00. Following the completion of the transaction, the insider now directly owns 15,260 shares in the company, valued at approximately $1,197,757.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Curtis Warfield acquired 3,362 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was bought at an average cost of $71.03 per share, with a total value of $238,802.86. Following the acquisition, the director now owns 15,662 shares of the company’s stock, valued at approximately $1,112,471.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hernan E. Mujica sold 2,000 shares of Texas Roadhouse stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $78.49, for a total transaction of $156,980.00. Following the sale, the insider now directly owns 15,260 shares of the company’s stock, valued at $1,197,757.40. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Texas Roadhouse

Hedge funds have recently made changes to their positions in the stock. HM Payson & Co. bought a new stake in shares of Texas Roadhouse during the 1st quarter worth $25,000. TCI Wealth Advisors Inc. lifted its stake in Texas Roadhouse by 319.5% in the second quarter. TCI Wealth Advisors Inc. now owns 344 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 262 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Texas Roadhouse by 46.6% in the fourth quarter. First Horizon Advisors Inc. now owns 428 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 136 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Texas Roadhouse by 92.7% in the first quarter. CENTRAL TRUST Co now owns 578 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 278 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Texas Roadhouse in the fourth quarter worth $51,000. 96.29% of the stock is owned by institutional investors.

About Texas Roadhouse

(Get Rating)

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants.

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