Truist Financial Forecasts Strong Price Appreciation for Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by Truist Financial from $207.00 to $209.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other analysts also recently commented on TXRH. Wedbush reaffirmed an “outperform” rating and set a $200.00 target price on shares of Texas Roadhouse in a report on Thursday, December 19th. Robert W. Baird boosted their price objective on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets increased their target price on Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Barclays boosted their price target on Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Citigroup upped their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and an average price target of $190.26.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $178.12 on Wednesday. The company has a 50-day simple moving average of $190.48 and a 200 day simple moving average of $178.50. The company has a market capitalization of $11.88 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. Texas Roadhouse has a 52-week low of $115.48 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. As a group, equities analysts forecast that Texas Roadhouse will post 6.39 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insiders Place Their Bets

In other news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,480 shares of company stock valued at $668,603. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in Texas Roadhouse during the 2nd quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in shares of Texas Roadhouse during the third quarter worth $30,000. PSI Advisors LLC grew its stake in shares of Texas Roadhouse by 70.8% in the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Texas Roadhouse by 118.6% in the third quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 140 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Texas Roadhouse in the second quarter valued at $47,000. 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.