Texas Roadhouse (NASDAQ:TXRH) Reaches New 12-Month High After Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s stock price reached a new 52-week high during mid-day trading on Friday after UBS Group raised their price target on the stock from $200.00 to $210.00. UBS Group currently has a buy rating on the stock. Texas Roadhouse traded as high as $189.97 and last traded at $186.90, with a volume of 207128 shares traded. The stock had previously closed at $180.90.

TXRH has been the topic of several other reports. BMO Capital Markets boosted their price target on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday. Truist Financial lifted their price objective on Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus raised their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $188.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TXRH. Marshall Wace LLP grew its holdings in Texas Roadhouse by 128.9% during the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after acquiring an additional 430,814 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Texas Roadhouse by 22.3% during the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after purchasing an additional 165,738 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Texas Roadhouse during the second quarter valued at approximately $21,462,000. Millennium Management LLC grew its stake in shares of Texas Roadhouse by 25.0% during the second quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after purchasing an additional 116,721 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Texas Roadhouse by 3,259.4% in the first quarter. Bahl & Gaynor Inc. now owns 92,350 shares of the restaurant operator’s stock valued at $14,265,000 after purchasing an additional 89,601 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

The firm’s 50-day moving average is $172.41 and its two-hundred day moving average is $168.45. The stock has a market cap of $12.49 billion, a P/E ratio of 34.01, a PEG ratio of 1.61 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the firm posted $0.95 EPS. Texas Roadhouse’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.37 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 44.28%.

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.