Texas Roadhouse (NASDAQ:TXRH) Trading 4.4% Higher – Here’s What Happened

Texas Roadhouse, Inc. (NASDAQ:TXRH) shares traded up 4.4% during trading on Friday . The company traded as high as $168.31 and last traded at $168.4450. 283,957 shares were traded during trading, a decline of 73% from the average session volume of 1,068,805 shares. The stock had previously closed at $161.30.

Wall Street Analysts Forecast Growth

TXRH has been the subject of several recent research reports. TD Cowen increased their price target on shares of Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, May 21st. Mizuho increased their price target on shares of Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Wells Fargo & Company dropped their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $196.36.

Texas Roadhouse Price Performance

The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.87 and a beta of 0.79. The company’s 50-day moving average is $168.02 and its 200-day moving average is $173.76.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.70 earnings per share. Equities research analysts expect that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 47.92%.

Insider Activity at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the sale, the director owned 30,900 shares of the company’s stock, valued at approximately $5,504,526. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider directly owned 10,326 shares of the company’s stock, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,166 shares of company stock valued at $2,813,705. Insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Hedge funds have recently modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $25,000. Princeton Global Asset Management LLC acquired a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $31,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Texas Roadhouse during the third quarter worth approximately $33,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at approximately $34,000. Finally, TD Private Client Wealth LLC grew its stake in shares of Texas Roadhouse by 137.5% during the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

About Texas Roadhouse

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.