Wedbush Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Wedbush from $170.00 to $180.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Texas Roadhouse’s Q2 2024 earnings at $1.54 EPS, Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

TXRH has been the subject of several other reports. Robert W. Baird raised shares of Texas Roadhouse from a neutral rating to an outperform rating and boosted their target price for the stock from $160.00 to $175.00 in a research report on Wednesday, March 13th. Stephens assumed coverage on Texas Roadhouse in a research report on Friday, April 12th. They set an equal weight rating and a $150.00 price objective on the stock. Northcoast Research downgraded Texas Roadhouse from a buy rating to a neutral rating in a report on Tuesday, February 20th. Truist Financial upped their target price on shares of Texas Roadhouse from $152.00 to $168.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group upped their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $155.55.

Texas Roadhouse Stock Up 2.5 %

Shares of NASDAQ:TXRH opened at $167.74 on Friday. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The company has a market cap of $11.21 billion, a PE ratio of 33.96, a P/E/G ratio of 1.73 and a beta of 1.00. The company’s 50-day moving average price is $152.85 and its 200 day moving average price is $130.52.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is currently 49.39%.

Insider Activity at Texas Roadhouse

In related news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. 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 business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Operose Advisors LLC acquired a new position in Texas Roadhouse during the third quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in shares of Texas Roadhouse in the first quarter worth $32,000. China Universal Asset Management Co. Ltd. raised its position in shares of Texas Roadhouse by 454.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Texas Roadhouse by 35.8% in 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. Finally, TFC Financial Management Inc. lifted its holdings in Texas Roadhouse by 100.0% in the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 290 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.