Texas Roadhouse, Inc. (NASDAQ:TXRH) Receives $192.73 Average PT from Analysts

Texas Roadhouse, Inc. (NASDAQ:TXRH) has been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $192.73.

TXRH has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Wedbush reduced their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group started coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Insider Activity

In other news, insider Christopher C. Colson sold 580 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the transaction, the insider now directly owns 12,000 shares of the company’s stock, valued at $2,183,280. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 2,050 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $170.66, for a total transaction of $349,853.00. Following the completion of the transaction, the chief technology officer now directly owns 17,162 shares in the company, valued at $2,928,866.92. The trade was a 10.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock valued at $3,198,367 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Roadhouse

Several large investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC raised its position in shares of Texas Roadhouse by 3.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares during the period. Cornerstone Investment Partners LLC grew its stake in shares of Texas Roadhouse by 2.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after acquiring an additional 56 shares in the last quarter. Lifestyle Asset Management Inc. grew its stake in shares of Texas Roadhouse by 3.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after acquiring an additional 60 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Texas Roadhouse by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after acquiring an additional 62 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after acquiring an additional 65 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $178.33 on Tuesday. The stock has a market cap of $11.90 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.23 and a beta of 1.00. Texas Roadhouse has a 52-week low of $146.75 and a 52-week high of $206.04. The firm has a 50 day moving average price of $178.53 and a 200 day moving average price of $181.14.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Analysts predict that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.68 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio is 42.04%.

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.