Texas Roadhouse (NASDAQ:TXRH) Reaches New 52-Week High – What’s Next?

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high on Thursday . The stock traded as high as $197.08 and last traded at $197.6510, with a volume of 536221 shares trading hands. The stock had previously closed at $189.86.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TXRH shares. Wells Fargo & Company boosted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets lifted their target price on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, May 21st. Morgan Stanley reiterated an “overweight” rating and set a $201.00 price target on shares of Texas Roadhouse in a research report on Friday, May 8th. Royal Bank Of Canada upgraded Texas Roadhouse from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $180.00 to $210.00 in a research report on Friday, May 15th. Finally, Citigroup lowered their price objective on Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.05.

Texas Roadhouse Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The business’s 50 day simple moving average is $179.36 and its 200-day simple moving average is $176.14. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 2.02 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping the consensus estimate of $1.80 by $0.07. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. Texas Roadhouse’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. Research analysts anticipate that Texas Roadhouse, Inc. will post 6.43 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is currently 47.92%.

Insider Activity

In other Texas Roadhouse news, Director Jane Grote Abell sold 339 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $177.43, for a total transaction of $60,148.77. Following the completion of the transaction, the director owned 2,161 shares in the company, valued at approximately $383,426.23. The trade was a 13.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the transaction, the insider directly owned 10,326 shares of the company’s stock, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,154 shares of company stock worth $1,115,864 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently bought and sold shares of TXRH. Elyxium Wealth LLC acquired a new position in Texas Roadhouse during the 4th quarter valued at about $25,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Texas Roadhouse by 5,033.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 151 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Texas Roadhouse in the 4th quarter worth approximately $31,000. Measured Wealth Private Client Group LLC bought a new position in shares of Texas Roadhouse in the third quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $34,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.