Texas Roadhouse (NASDAQ:TXRH) Given New $160.00 Price Target at Barclays

Texas Roadhouse (NASDAQ:TXRH) had its price objective lifted by Barclays from $138.00 to $160.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the restaurant operator’s stock.

TXRH has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Northcoast Research cut shares of Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Truist Financial increased their price objective on Texas Roadhouse from $152.00 to $168.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Jefferies Financial Group boosted their target price on Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. Finally, Benchmark began coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a hold rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $151.30.

Texas Roadhouse Trading Up 3.6 %

NASDAQ:TXRH traded up $5.71 during trading hours on Friday, hitting $163.61. The company had a trading volume of 1,640,850 shares, compared to its average volume of 835,599. Texas Roadhouse has a 1 year low of $91.06 and a 1 year high of $170.39. The company has a market cap of $10.93 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.71 and a beta of 1.00. The company has a 50-day moving average of $152.50 and a 200 day moving average of $129.54.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. Texas Roadhouse’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts forecast that Texas Roadhouse will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.49%. Texas Roadhouse’s payout ratio is 49.39%.

Insider Activity

In other news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 405 shares of the 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 sale, the insider now directly owns 8,500 shares of the company’s stock, valued at $1,266,925. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Roadhouse

Several hedge funds have recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in shares of Texas Roadhouse during the third quarter worth about $28,000. Rise Advisors LLC purchased a new stake in Texas Roadhouse in the 1st quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. increased its position in Texas Roadhouse by 454.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the period. Fifth Third Bancorp increased its position in Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 125 shares during the period. Finally, TFC Financial Management Inc. raised its stake in shares of Texas Roadhouse by 100.0% during the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after buying an additional 290 shares in the last quarter. Institutional investors and hedge funds 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.