Texas Roadhouse (NASDAQ:TXRH) Hits New 1-Year High – What’s Next?

Texas Roadhouse, Inc. (NASDAQ:TXRH) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $213.47 and last traded at $213.40, with a volume of 260841 shares. The stock had previously closed at $209.82.

Analysts Set New Price Targets

A number of research firms have recently commented on TXRH. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a research report on Friday, August 7th. TD Cowen upped their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.48.

Texas Roadhouse Trading Down 0.2%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. The stock’s 50-day moving average is $190.83 and its two-hundred day moving average is $179.29. The company has a market cap of $13.58 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.12 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $1.86 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio is currently 48.00%.

Insider Buying and Selling

In related news, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the transaction, the general counsel directly owned 860 shares of the company’s stock, valued at approximately $165,575.80. This trade represents a 33.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the transaction, the director directly owned 26,900 shares in the company, valued at $5,603,808. This trade represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,264 shares of company stock valued at $856,557. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elyxium Wealth LLC bought a new stake in Texas Roadhouse in the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC lifted its stake in Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Silvant Capital Management LLC purchased a new position in shares of Texas Roadhouse during the second quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC bought a new position in shares of Texas Roadhouse during the third quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Texas Roadhouse in the fourth quarter worth approximately $34,000. Institutional investors own 94.82% of the company’s stock.

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.