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

Texas Roadhouse (NASDAQ:TXRH) had its price target lifted by Citigroup from $162.00 to $178.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

TXRH has been the topic of a number of other research reports. Wedbush upped their price objective on Texas Roadhouse from $160.00 to $170.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Wells Fargo & Company upped their price objective 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. BMO Capital Markets upped their price objective on Texas Roadhouse from $110.00 to $130.00 and gave the stock a market perform rating in a research report on Friday, February 16th. Finally, Robert W. Baird raised Texas Roadhouse from a neutral rating to an outperform rating and upped their price objective for the stock from $160.00 to $175.00 in a research report on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $138.76.

Texas Roadhouse Stock Up 0.4 %

Shares of NASDAQ TXRH opened at $157.46 on Wednesday. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 1.70 and a beta of 0.99. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $159.31. The business’s 50 day moving average is $151.30 and its two-hundred day moving average is $127.25.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $1.16 billion for 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 firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. Analysts anticipate that Texas Roadhouse will post 5.77 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is 53.86%.

Insider Activity

In other news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the sale, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction 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 sale, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. 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. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in Texas Roadhouse during the 3rd quarter worth $10,585,000. Bamco Inc. NY increased its stake in Texas Roadhouse by 16.9% during the 3rd quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator’s stock worth $28,466,000 after buying an additional 42,755 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Texas Roadhouse by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator’s stock worth $72,523,000 after buying an additional 8,219 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Texas Roadhouse in the 3rd quarter worth about $8,748,000. Finally, Boston Trust Walden Corp raised its stake in shares of Texas Roadhouse by 12.9% in the 4th quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock valued at $94,997,000 after purchasing an additional 89,019 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

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.