Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $185.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by Barclays from $170.00 to $185.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein set a $185.00 price objective on shares of Texas Roadhouse in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Monday, December 29th. BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $155.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday. Stephens cut their target price on Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Finally, Wells Fargo & Company raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $195.00 in a report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Texas Roadhouse Trading Up 1.4%

Shares of NASDAQ:TXRH opened at $183.15 on Wednesday. The stock has a fifty day simple moving average of $169.71 and a two-hundred day simple moving average of $173.48. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.83 and a beta of 0.89. Texas Roadhouse has a 12-month low of $148.73 and a 12-month high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is currently 41.59%.

Insider Activity

In other Texas Roadhouse news, Director Hugh J. Carroll sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the sale, the director directly owned 1,854 shares in the company, valued at $310,118.58. The trade was a 35.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory N. Moore sold 1,400 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total transaction of $238,000.00. Following the sale, the director directly owned 32,150 shares of the company’s stock, valued at $5,465,500. The trade was a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Amundi grew its position in shares of Texas Roadhouse by 2,865.8% during the 1st quarter. Amundi now owns 78,684 shares of the restaurant operator’s stock valued at $13,144,000 after acquiring an additional 76,031 shares during the period. NewEdge Advisors LLC grew its holdings in Texas Roadhouse by 12.0% during the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 259 shares during the period. Woodline Partners LP grew its holdings in Texas Roadhouse by 2.2% during the first quarter. Woodline Partners LP now owns 81,328 shares of the restaurant operator’s stock valued at $13,552,000 after purchasing an additional 1,716 shares during the period. Bayforest Capital Ltd increased its position in Texas Roadhouse by 182.0% in the first quarter. Bayforest Capital Ltd now owns 1,461 shares of the restaurant operator’s stock worth $243,000 after buying an additional 943 shares in the last quarter. Finally, Advisory Alpha LLC increased its position in Texas Roadhouse by 3.0% in the first quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock worth $344,000 after buying an additional 60 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.