Citigroup Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $178.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective raised by Citigroup from $162.00 to $178.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other research analysts have also commented on the company. Jefferies Financial Group boosted their price target on Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Truist Financial boosted their price target on Texas Roadhouse from $152.00 to $168.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Wells Fargo & Company boosted their price target on Texas Roadhouse from $125.00 to $140.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Morgan Stanley boosted their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Finally, Stephens started coverage on Texas Roadhouse in a research report on Friday, April 12th. They set an equal weight rating and a $150.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of Hold and a consensus target price of $138.76.

Texas Roadhouse Trading Up 0.4 %

Shares of TXRH stock opened at $157.46 on Wednesday. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $159.31. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 34.76, a P/E/G ratio of 1.70 and a beta of 0.99. The stock has a fifty day simple moving average of $151.30 and a two-hundred day simple moving average of $127.25.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Research analysts predict that Texas Roadhouse will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.55%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio is presently 53.86%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 670 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock valued at $1,843,145 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds and other institutional investors have recently made changes to their positions in TXRH. Norges Bank acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $78,544,000. Balyasny Asset Management L.P. increased its holdings in shares of Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after purchasing an additional 441,069 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after purchasing an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Texas Roadhouse by 60.9% in the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after purchasing an additional 294,425 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $28,724,000. 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.