Texas Roadhouse (NASDAQ:TXRH) Given New $196.00 Price Target at Truist Financial

Texas Roadhouse (NASDAQ:TXRH) had its price objective upped by Truist Financial from $185.00 to $196.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an equal weight rating in a research note on Friday. Benchmark initiated coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They issued a hold rating for the company. Robert W. Baird increased their price objective on Texas Roadhouse from $178.00 to $182.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their target price on Texas Roadhouse from $155.00 to $175.00 and gave the stock a hold rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada increased their price target on Texas Roadhouse from $165.00 to $175.00 and gave the company a sector perform rating in a research report on Friday, June 7th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Texas Roadhouse currently has an average rating of Hold and a consensus price target of $169.86.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $172.44 on Friday. The company has a market capitalization of $11.52 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $175.72. The firm has a 50 day moving average price of $169.83 and a 200 day moving average price of $154.90.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Texas Roadhouse will post 6.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.41%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Curtis Warfield sold 1,025 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,025 shares of company stock valued at $3,251,266. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Roadhouse in the second quarter worth $25,000. LRI Investments LLC acquired a new stake in Texas Roadhouse in the first quarter valued at approximately $25,000. McClarren Financial Advisors Inc. raised its stake in shares of Texas Roadhouse by 4,175.0% during the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Rise Advisors LLC acquired a new position in shares of Texas Roadhouse during the first quarter worth $32,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings 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 valued at $38,000 after purchasing an additional 200 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

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.