Texas Roadhouse (NASDAQ:TXRH) Reaches New 52-Week High at $158.50

Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high during trading on Wednesday . The company traded as high as $158.50 and last traded at $157.53, with a volume of 64913 shares trading hands. The stock had previously closed at $156.87.

Analyst Ratings Changes

A number of research firms have issued reports on TXRH. Jefferies Financial Group lifted their price objective on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on shares of Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Stephens started coverage on Texas Roadhouse in a research note on Friday, April 12th. They issued an “equal weight” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Texas Roadhouse from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Morgan Stanley lifted their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse currently has an average rating of “Hold” and an average target price of $136.05.

Texas Roadhouse Price Performance

The stock has a market capitalization of $10.53 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99. The stock has a fifty day moving average price of $150.15 and a 200 day moving average price of $126.40.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Research analysts anticipate that Texas Roadhouse, Inc. will post 5.75 earnings per share 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 given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s payout ratio is 53.86%.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,382 shares of company stock worth $1,843,145. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at about $78,544,000. Balyasny Asset Management L.P. raised its stake in shares of Texas Roadhouse by 4,150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after acquiring an additional 441,069 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Texas Roadhouse by 40.7% in the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after acquiring an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Texas Roadhouse by 60.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after purchasing an additional 294,425 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Texas Roadhouse during the 4th quarter valued at $28,724,000. 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.