Texas Roadhouse (NASDAQ:TXRH) Sets New 1-Year High After Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price reached a new 52-week high during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $195.00 to $200.00. Evercore ISI currently has an outperform rating on the stock. Texas Roadhouse traded as high as $181.97 and last traded at $181.49, with a volume of 168690 shares. The stock had previously closed at $176.05.

Other analysts have also issued reports about the company. Morgan Stanley raised their target price on Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Wedbush restated an “outperform” rating and issued a $190.00 target price on shares of Texas Roadhouse in a research note on Tuesday, September 24th. BTIG Research raised their target price on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets raised their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, Bank of America raised their target price on Texas Roadhouse from $189.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Twelve 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, the company currently has a consensus rating of “Hold” and an average price target of $177.15.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of TXRH. LRI Investments LLC acquired a new stake in Texas Roadhouse in the 1st quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth approximately $25,000. Hollencrest Capital Management acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth approximately $25,000. McClarren Financial Advisors Inc. increased its position in shares of Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. The company has a 50-day simple moving average of $170.09 and a two-hundred day simple moving average of $166.82.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 6.34 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.34%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

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.