Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $210.00 at Wedbush

Texas Roadhouse (NASDAQ:TXRH) had its price objective upped by Wedbush from $200.00 to $210.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus cut their price objective on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Stephens reduced their price objective on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a research report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.36.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $171.05 on Friday. Texas Roadhouse has a one year low of $146.75 and a one year high of $206.04. The business’s 50-day moving average price is $176.36 and its two-hundred day moving average price is $181.50. The company has a market capitalization of $11.37 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

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

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.59%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s payout ratio is presently 42.04%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the sale, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $168.26, for a total transaction of $454,302.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXRH. Kingsview Wealth Management LLC boosted its holdings in shares of Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares in the last quarter. Centaurus Financial Inc. bought a new position in Texas Roadhouse in the 3rd quarter valued at $102,000. Daiwa Securities Group Inc. acquired a new position in Texas Roadhouse in the third quarter worth $406,000. Bank of Montreal Can boosted its stake in Texas Roadhouse by 2,216.1% in the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock worth $30,831,000 after purchasing an additional 168,669 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after purchasing an additional 403,720 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.