BMO Capital Markets Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $145.00

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by BMO Capital Markets from $130.00 to $145.00 in a research report released on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the restaurant operator’s stock.

Several other research analysts have also issued reports on TXRH. Jefferies Financial Group upped their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Stephens increased their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the company an equal weight rating in a research report on Friday. Citigroup raised their price objective on Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a report on Wednesday, April 24th. Morgan Stanley increased their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company an equal weight rating in a research report on Friday. Finally, Barclays boosted their price objective on shares of Texas Roadhouse from $138.00 to $160.00 and gave the stock an equal weight rating in a report on Friday. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse presently has a consensus rating of Hold and a consensus price target of $151.30.

Texas Roadhouse Price Performance

NASDAQ TXRH traded up $5.71 during trading on Friday, reaching $163.61. The company’s stock had a trading volume of 1,640,850 shares, compared to its average volume of 835,599. The firm has a fifty day moving average of $152.50 and a 200 day moving average of $129.54. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39. The stock has a market capitalization of $10.93 billion, a PE ratio of 33.12, a P/E/G ratio of 1.71 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts expect that Texas Roadhouse will post 5.77 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.61 dividend. The ex-dividend date was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.49%. Texas Roadhouse’s dividend payout ratio is 49.39%.

Insider Activity

In other Texas Roadhouse news, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now owns 13,397 shares in the company, valued at approximately $1,991,865.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Curtis Warfield sold 2,365 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now directly owns 13,397 shares of the company’s stock, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,382 shares of company stock valued at $1,843,145. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Operose Advisors LLC purchased a new position in Texas Roadhouse during the third quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of Texas Roadhouse during the first quarter valued at $32,000. China Universal Asset Management Co. Ltd. raised its position in shares of Texas Roadhouse by 454.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its stake in Texas Roadhouse by 35.8% in the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 125 shares in the last quarter. Finally, TFC Financial Management Inc. grew its position in Texas Roadhouse by 100.0% during the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors 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.