Texas Roadhouse (NASDAQ:TXRH) PT Raised to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its price target raised by Wedbush from $170.00 to $180.00 in a research note published on Friday, Benzinga reports. Wedbush 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.

Several other research analysts have also recently issued reports on the stock. Robert W. Baird upgraded shares of Texas Roadhouse from a neutral rating to an outperform rating and upped their target price for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. UBS Group upped their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock a buy rating in a report on Friday, February 16th. Citigroup boosted their target price on Texas Roadhouse from $162.00 to $178.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Truist Financial lifted their price target 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, Morgan Stanley raised their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $151.30.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded up $5.71 on Friday, hitting $163.61. 1,640,850 shares of the stock traded hands, compared to its average volume of 835,599. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $170.39. The stock has a market capitalization of $10.93 billion, a PE ratio of 33.12, a PEG ratio of 1.71 and a beta of 1.00. The firm’s 50-day moving average price is $152.50 and its two-hundred day moving average price is $129.54.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. Texas Roadhouse’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. On average, equities research analysts anticipate that Texas Roadhouse will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 1.49%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s payout ratio is 49.39%.

Insider Buying and Selling

In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the sale, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock valued at $1,843,145 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new position in Texas Roadhouse in the first quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. increased its stake in Texas Roadhouse by 454.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. Operose Advisors LLC acquired a new stake in Texas Roadhouse in the third quarter worth $28,000. Fifth Third Bancorp boosted its position in shares of Texas Roadhouse by 35.8% during the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 125 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter valued at $76,000. 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.