Royal Bank of Canada Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $165.00

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by Royal Bank of Canada from $145.00 to $165.00 in a research report report published on Friday, Benzinga reports. They currently have a sector perform rating on the restaurant operator’s stock.

TXRH has been the subject of a number of other research reports. Stephens raised their target price on Texas Roadhouse from $150.00 to $164.00 and gave the stock an equal weight rating in a research note on Friday. Morgan Stanley increased their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company an equal weight rating in a report on Friday. UBS Group lifted their target price on Texas Roadhouse from $145.00 to $155.00 and gave the stock a buy rating in a report on Friday, February 16th. Wedbush increased their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock an outperform rating in a report on Friday. Finally, Citigroup lifted their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $152.59.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $163.61 on Friday. The company’s 50-day simple moving average is $152.50 and its 200-day simple moving average is $130.02. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The stock has a market capitalization of $10.93 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.73 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, research analysts forecast that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

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

Insider Buying and Selling

In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now directly owns 15,261 shares in the company, valued at $2,290,218.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock worth $1,843,145 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Texas Roadhouse by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock valued at $173,694,000 after purchasing an additional 29,506 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Texas Roadhouse by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock valued at $154,869,000 after buying an additional 8,392 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after buying an additional 370,627 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Texas Roadhouse by 26.3% during the third quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after buying an additional 205,064 shares during the period. Finally, Geneva Capital Management LLC grew its stake in Texas Roadhouse by 7.9% in the 4th quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock worth $115,901,000 after acquiring an additional 69,536 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

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.