Texas Roadhouse (NASDAQ:TXRH) Given New $170.00 Price Target at Barclays

Texas Roadhouse (NASDAQ:TXRH) had its price objective trimmed by Barclays from $187.00 to $170.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on TXRH. Zacks Research downgraded Texas Roadhouse from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Evercore ISI cut shares of Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price target for the company. in a research note on Thursday, September 4th. Morgan Stanley reissued an “overweight” rating and set a $210.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Roadhouse in a research note on Wednesday, October 8th. Finally, Mizuho upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average price target of $193.21.

Texas Roadhouse Stock Up 2.7%

TXRH traded up $4.30 on Friday, reaching $165.03. The company had a trading volume of 2,595,760 shares, compared to its average volume of 1,129,258. Texas Roadhouse has a 1 year low of $148.73 and a 1 year high of $206.04. The stock has a market capitalization of $10.97 billion, a PE ratio of 25.20, a P/E/G ratio of 2.50 and a beta of 0.87. The stock has a 50-day moving average price of $167.61 and a 200-day moving average price of $177.86.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts expect that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s payout ratio is presently 41.59%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the transaction, the president directly owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,342 shares of company stock worth $1,443,704 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Roadhouse

A number of institutional investors have recently modified their holdings of TXRH. Alliancebernstein L.P. raised its position in Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after acquiring an additional 2,667,716 shares in the last quarter. Axiom Investors LLC DE boosted its position in shares of Texas Roadhouse by 3,696.7% during the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock worth $362,221,000 after purchasing an additional 2,116,552 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock worth $268,209,000 after purchasing an additional 1,089,256 shares during the period. AQR Capital Management LLC increased its holdings 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 purchasing an additional 1,081,413 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Texas Roadhouse in the second quarter valued at about $159,007,000. 94.82% of the stock is currently owned by hedge funds and other 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.