Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $178.00 by Analysts at Citigroup

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by Citigroup from $162.00 to $178.00 in a research report report published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

Several other research firms have also recently issued reports on TXRH. Morgan Stanley lifted their price objective on shares of Texas Roadhouse from $135.00 to $145.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Benchmark initiated coverage on shares of Texas Roadhouse in a research report on Wednesday, April 10th. They set a hold rating on the stock. Northcoast Research cut shares of Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Truist Financial lifted their price objective on shares of Texas Roadhouse from $152.00 to $168.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Finally, UBS Group lifted their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a buy rating in a research report on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of Hold and an average price target of $138.76.

Texas Roadhouse Trading Down 0.1 %

NASDAQ TXRH opened at $156.76 on Wednesday. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $158.54. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 1.70 and a beta of 0.99. The company’s 50 day moving average is $150.64 and its two-hundred day moving average is $126.62.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned $0.89 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that Texas Roadhouse will post 5.77 EPS for the current year.

Texas Roadhouse Increases Dividend

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

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the transaction, the insider now owns 8,500 shares of the company’s stock, valued at $1,266,925. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 over the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TXRH. Operose Advisors LLC acquired a new position in shares of Texas Roadhouse in the 3rd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Texas Roadhouse during the 1st quarter valued at about $32,000. Fifth Third Bancorp grew its stake in Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares during the last quarter. TFC Financial Management Inc. grew its stake in Texas Roadhouse by 100.0% during the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $81,000. Hedge funds and other institutional investors 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.