Truist Financial Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $183.00

Texas Roadhouse (NASDAQ:TXRH) had its target price raised by Truist Financial from $181.00 to $183.00 in a research note issued to investors on Monday morning, 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. Barclays upped their price target on shares of Texas Roadhouse from $138.00 to $160.00 and gave the stock an equal weight rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a sector perform rating in a research note on Friday, June 7th. Stifel Nicolaus upped their price target on shares of Texas Roadhouse from $155.00 to $175.00 and gave the stock a hold rating in a research note on Monday, May 6th. BMO Capital Markets upped their price target on shares of Texas Roadhouse from $130.00 to $145.00 and gave the stock a market perform rating in a research note on Friday, May 3rd. Finally, Stephens upped their target price on shares of Texas Roadhouse from $150.00 to $164.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $157.86.

Texas Roadhouse Trading Down 0.8 %

Shares of TXRH stock opened at $170.36 on Monday. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $175.72. The stock has a market cap of $11.38 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company’s fifty day moving average price is $167.45 and its 200-day moving average price is $147.94.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts forecast that Texas Roadhouse will post 6.02 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio is 49.39%.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Curtis Warfield sold 1,025 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the sale, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction 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 $13,366,329.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,025 shares of company stock valued at $3,251,266. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors have recently added to or reduced their stakes in TXRH. Treasurer of the State of North Carolina grew its holdings in Texas Roadhouse by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 29,360 shares of the restaurant operator’s stock valued at $2,821,000 after buying an additional 150 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Texas Roadhouse by 39.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,508 shares of the restaurant operator’s stock valued at $722,000 after buying an additional 2,141 shares in the last quarter. AXQ Capital LP purchased a new stake in Texas Roadhouse during the 3rd quarter valued at approximately $401,000. Ameriprise Financial Inc. grew its holdings in Texas Roadhouse by 15.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 480,804 shares of the restaurant operator’s stock valued at $46,205,000 after buying an additional 63,734 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in Texas Roadhouse by 102.7% during the 3rd quarter. Alps Advisors Inc. now owns 50,863 shares of the restaurant operator’s stock valued at $4,888,000 after buying an additional 25,768 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.