Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $181.00 at Truist Financial

Texas Roadhouse (NASDAQ:TXRH) had its price target increased by Truist Financial from $170.00 to $181.00 in a report issued on Friday, Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group increased their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a hold rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Texas Roadhouse from $142.00 to $145.00 and gave the company a neutral rating in a report on Tuesday, March 19th. Wedbush boosted their target price on Texas Roadhouse from $170.00 to $180.00 and gave the stock an outperform rating in a research report on Friday. Finally, Robert W. Baird raised their price target on shares of Texas Roadhouse from $178.00 to $182.00 and gave the company an outperform rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $155.55.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $167.74 on Friday. The firm’s 50-day simple moving average is $152.85 and its two-hundred day simple moving average is $130.52. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The stock has a market cap of $11.21 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.04. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share. Equities research analysts predict that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The company 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 a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. Texas Roadhouse’s payout ratio is 49.39%.

Insiders Place Their Bets

In other news, 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 value of $60,365.25. Following the transaction, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the transaction, the director now directly owns 4,142 shares in the company, valued at approximately $621,175.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,382 shares of company stock worth $1,843,145. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Texas Roadhouse during the 4th quarter valued at approximately $78,544,000. Balyasny Asset Management L.P. increased its position in Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after purchasing an additional 441,069 shares during the last quarter. Invesco Ltd. raised its stake in Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after purchasing an additional 370,627 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Texas Roadhouse by 60.9% during the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after purchasing an additional 294,425 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Texas Roadhouse in the 4th quarter worth $28,724,000. 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.