Jefferies Financial Group Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $136.00

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by Jefferies Financial Group from $120.00 to $136.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the restaurant operator’s stock.

Other equities research analysts have also issued research reports about the company. Robert W. Baird raised Texas Roadhouse from a neutral rating to an outperform rating and lifted their price objective for the stock from $160.00 to $175.00 in a report on Wednesday, March 13th. Piper Sandler lifted their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the stock a neutral rating in a report on Tuesday, February 20th. 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. Truist Financial lifted their price objective on Texas Roadhouse from $152.00 to $168.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $136.05.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $150.46 on Tuesday. Texas Roadhouse has a 1 year low of $91.06 and a 1 year high of $157.12. The firm has a market cap of $10.06 billion, a PE ratio of 33.21, a P/E/G ratio of 1.65 and a beta of 0.99. The stock has a fifty day moving average price of $148.97 and a 200-day moving average price of $124.80.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse will post 5.74 EPS 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 given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, March 12th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is 53.86%.

Insider Activity

In other news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse 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 sale, the insider now owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Regina A. Tobin sold 3,064 shares of the business’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 owns 15,261 shares in the company, valued at approximately $2,290,218.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction that occurred 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 approximately $1,266,925. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Texas Roadhouse

A number of hedge funds have recently bought and sold shares of TXRH. Bank of America Corp DE lifted its position in Texas Roadhouse by 82.5% in the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock worth $254,969,000 after buying an additional 1,066,581 shares during the last quarter. Morgan Stanley increased its stake in Texas Roadhouse by 154.8% in the 4th quarter. Morgan Stanley now owns 1,064,802 shares of the restaurant operator’s stock worth $96,844,000 after purchasing an additional 646,982 shares during the period. Norges Bank purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $78,544,000. BlackRock Inc. increased its stake in Texas Roadhouse by 7.8% in the 1st quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock worth $680,519,000 after purchasing an additional 585,944 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in Texas Roadhouse by 4,434,627.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 487,820 shares of the restaurant operator’s stock worth $52,714,000 after purchasing an additional 487,809 shares during the period. 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.