Texas Roadhouse (NASDAQ:TXRH) Stock Price Up 4% – Time to Buy?

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price rose 4% during mid-day trading on Friday . The company traded as high as $181.00 and last traded at $179.61. Approximately 461,631 shares were traded during trading, a decline of 59% from the average daily volume of 1,116,458 shares. The stock had previously closed at $172.74.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a “buy” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group reduced their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Stifel Nicolaus upped their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Finally, Citigroup upped their price target on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.25.

Texas Roadhouse Trading Up 2.7%

The business’s fifty day moving average is $168.98 and its 200 day moving average is $176.90. The firm has a market capitalization of $11.79 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.63 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Roadhouse’s payout ratio is currently 41.53%.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director directly owned 34,550 shares of the company’s stock, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the sale, the president directly owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,342 shares of company stock valued at $1,443,704. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several large investors have recently modified their holdings of TXRH. Alliancebernstein L.P. raised its stake in Texas Roadhouse by 528.2% during the 2nd quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock valued at $594,603,000 after purchasing an additional 2,667,716 shares during the last quarter. Invesco Ltd. raised its stake in shares of Texas Roadhouse by 17.2% in the 2nd quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock valued at $487,965,000 after buying an additional 382,699 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Texas Roadhouse by 85.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $439,102,000 after buying an additional 1,081,413 shares in the last quarter. Axiom Investors LLC DE raised its stake in shares of Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after buying an additional 2,116,552 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Roadhouse by 209.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock valued at $268,209,000 after buying an additional 1,089,256 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

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.