Texas Roadhouse (NASDAQ:TXRH) Hits New 52-Week High on Analyst Upgrade

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high 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 traded. The stock had previously closed at $156.87.

TXRH has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on shares of Texas Roadhouse from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wells Fargo & Company increased their price target on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Wedbush increased their price target on shares of Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Jefferies Financial Group increased their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Finally, Stephens assumed coverage on Texas Roadhouse in a report on Friday, April 12th. They issued an “equal weight” rating and a $150.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus target price of $138.76.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 405 shares of the stock in a transaction on 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 sale, the insider now directly owns 8,500 shares of the company’s stock, valued at $1,266,925. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the sale, the insider now owns 8,500 shares of the company’s stock, valued at $1,266,925. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the sale, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock valued at $1,843,145 over the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently bought and sold shares of the business. Operose Advisors LLC acquired a new stake in Texas Roadhouse in the third quarter valued at $28,000. Rise Advisors LLC purchased a new position in shares of Texas Roadhouse in the first quarter valued at $32,000. Fifth Third Bancorp increased its position in shares of Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 125 shares in the last quarter. TFC Financial Management Inc. increased its position in shares of 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Texas Roadhouse in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

The firm has a market cap of $10.48 billion, a PE ratio of 34.63, a PEG ratio of 1.70 and a beta of 0.99. The business has a 50-day moving average price of $151.10 and a two-hundred day moving average price of $126.83.

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

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.61 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is currently 53.86%.

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.