Texas Roadhouse (NASDAQ:TXRH) Sets New 12-Month High Following Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price reached 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 changing hands. The stock had previously closed at $156.87.

A number of other brokerages have also recently commented on TXRH. Wells Fargo & Company upped 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. BMO Capital Markets upped 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. Benchmark started coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a “hold” rating for the company. Morgan Stanley upped their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $138.76.

Insider Activity at Texas Roadhouse

In related news, Director Curtis Warfield sold 2,365 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the sale, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtis Warfield sold 2,365 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the sale, the director now directly owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,382 shares of company stock valued at $1,843,145. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors have recently modified their holdings of the stock. Comerica Bank bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $10,585,000. Bamco Inc. NY lifted its stake in shares of Texas Roadhouse by 16.9% in the 3rd quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator’s stock valued at $28,466,000 after purchasing an additional 42,755 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Texas Roadhouse by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator’s stock worth $72,523,000 after buying an additional 8,219 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Texas Roadhouse in the third quarter worth approximately $8,748,000. Finally, Boston Trust Walden Corp raised its holdings in shares of Texas Roadhouse by 12.9% in the fourth quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after buying an additional 89,019 shares during the period. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Price Performance

The firm has a fifty day moving average price of $151.10 and a two-hundred day moving average price of $126.83. The stock has a market capitalization of $10.48 billion, a PE ratio of 34.63, a P/E/G ratio of 1.70 and a beta of 0.99.

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

Texas Roadhouse Increases Dividend

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

Texas Roadhouse Company Profile

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.