Citigroup Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $183.00

Texas Roadhouse (NASDAQ:TXRH) had its price target hoisted by Citigroup from $178.00 to $183.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other research firms have also issued reports on TXRH. BTIG Research lifted their price objective on shares of Texas Roadhouse from $155.00 to $175.00 and gave the company a buy rating in a research note on Friday. Piper Sandler boosted their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Benchmark initiated coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They issued a hold rating for the company. Northcoast Research downgraded shares of Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Finally, Robert W. Baird increased their target price on shares of Texas Roadhouse from $178.00 to $182.00 and gave the stock an outperform rating in a report on Friday. Thirteen 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 currently has a consensus rating of Hold and an average price target of $155.55.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $167.74 on Friday. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $170.39. The firm has a market capitalization of $11.21 billion, a PE ratio of 33.96, a P/E/G ratio of 1.73 and a beta of 1.00. The company’s 50 day simple moving average is $152.85 and its 200 day simple moving average is $130.52.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data 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 28.85%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $1.28 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that Texas Roadhouse will post 5.9 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a $0.61 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Insider Buying and Selling

In other news, Director Donna E. Epps sold 670 shares of the company’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 sale, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the transaction, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps sold 670 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the sale, the director now 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 have sold a total of 12,382 shares of company stock worth $1,843,145 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Texas Roadhouse by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock valued at $173,694,000 after acquiring an additional 29,506 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Texas Roadhouse by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock worth $154,869,000 after purchasing an additional 8,392 shares in the last quarter. Invesco Ltd. lifted its position in Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after buying an additional 370,627 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Texas Roadhouse by 26.3% during the third quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after acquiring an additional 205,064 shares in the last quarter. Finally, Geneva Capital Management LLC increased its holdings in shares of Texas Roadhouse by 7.9% during the fourth quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after acquiring an additional 69,536 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

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.