Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $183.00 at Citigroup

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by Citigroup from $178.00 to $183.00 in a research note published on Friday morning, Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on TXRH. Wedbush lifted their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company an outperform rating in a report on Friday. Benchmark initiated coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They set a hold rating on the stock. BMO Capital Markets boosted their price target on Texas Roadhouse from $130.00 to $145.00 and gave the stock a market perform rating in a research report on Friday. Northcoast Research lowered Texas Roadhouse from a buy rating to a neutral rating in a research report on Tuesday, February 20th. Finally, BTIG Research boosted their target price on Texas Roadhouse from $155.00 to $175.00 and gave the stock a buy rating in a report on Friday. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $151.30.

Texas Roadhouse Stock Performance

TXRH traded up $5.71 during midday trading on Friday, reaching $163.61. 1,640,850 shares of the company were exchanged, compared to its average volume of 835,599. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39. The stock has a market capitalization of $10.93 billion, a P/E ratio of 33.12, a PEG ratio of 1.71 and a beta of 1.00. The stock’s 50-day simple moving average is $152.50 and its 200 day simple moving average is $129.54.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.28 EPS. Texas Roadhouse’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Texas Roadhouse will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced 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 yield of 1.49%. The ex-dividend date was Tuesday, March 12th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Insiders Place Their Bets

In other news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares of the company’s stock, valued at $621,175.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the firm’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 directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock valued at $1,843,145 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently added to or reduced their stakes in the business. Operose Advisors LLC bought a new position in Texas Roadhouse in the third quarter worth approximately $28,000. Rise Advisors LLC bought a new position in Texas Roadhouse in the first quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Texas Roadhouse by 454.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in shares of Texas Roadhouse by 100.0% in the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds 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.