Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $178.00 by Analysts at Citigroup

Texas Roadhouse (NASDAQ:TXRH) had its price target raised by Citigroup from $162.00 to $178.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on TXRH. Robert W. Baird raised shares of Texas Roadhouse from a neutral rating to an outperform rating and increased their target price for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Truist Financial raised their price objective on Texas Roadhouse from $152.00 to $168.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. BMO Capital Markets boosted their target price on Texas Roadhouse from $110.00 to $130.00 and gave the stock a market perform rating in a research report on Friday, February 16th. Benchmark started coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a hold rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a research report on Tuesday, March 19th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $138.76.

Texas Roadhouse Price Performance

TXRH opened at $157.46 on Wednesday. The business has a 50 day simple moving average of $151.30 and a 200-day simple moving average of $127.47. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $159.31. The stock has a market capitalization of $10.52 billion, a P/E ratio of 34.76, a P/E/G ratio of 1.70 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. Research analysts anticipate that Texas Roadhouse will post 5.77 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.61 dividend. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.55%. Texas Roadhouse’s payout ratio is 53.86%.

Insider Buying and Selling

In related news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 4,142 shares of the company’s stock, valued at $621,175.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher C. Colson sold 405 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 4,142 shares in the company, valued at approximately $621,175.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,382 shares of company stock valued at $1,843,145. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently made changes to their positions in the business. Operose Advisors LLC purchased a new stake in Texas Roadhouse during the 3rd quarter worth $28,000. Rise Advisors LLC acquired a new stake in shares of Texas Roadhouse in the first quarter valued at about $32,000. Fifth Third Bancorp raised its holdings in shares of Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 125 shares during the period. TFC Financial Management Inc. lifted its position in Texas Roadhouse by 100.0% during the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 290 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $81,000. 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.