Texas Roadhouse (NASDAQ:TXRH) Sets New 1-Year High – Here’s What Happened

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $197.08 and last traded at $197.6510, with a volume of 536221 shares changing hands. The stock had previously closed at $189.86.

Analyst Ratings Changes

TXRH has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets boosted their price target on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, May 21st. Piper Sandler upped their price objective on Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $201.00 target price on shares of Texas Roadhouse in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Hold” and a consensus target price of $194.90.

Texas Roadhouse Price Performance

The business has a fifty day moving average of $180.54 and a 200 day moving average of $176.47. The firm has a market cap of $12.95 billion, a P/E ratio of 31.47, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.44 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is 47.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, insider Lloyd Paul Marshall sold 1,000 shares of Texas Roadhouse stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total transaction of $178,340.00. Following the completion of the transaction, the insider directly owned 10,326 shares of the company’s stock, valued at $1,841,538.84. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory N. Moore sold 1,250 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the transaction, the director owned 30,900 shares in the company, valued at approximately $5,504,526. This represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,154 shares of company stock worth $1,115,864. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in shares of Texas Roadhouse by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after purchasing an additional 575,685 shares during the period. Capital World Investors boosted its stake in Texas Roadhouse by 13.4% in the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock valued at $421,190,000 after purchasing an additional 300,405 shares during the period. UBS Group AG grew its holdings in Texas Roadhouse by 60.4% in the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after buying an additional 522,509 shares in the last quarter. Geode Capital Management LLC grew its holdings in Texas Roadhouse by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after buying an additional 24,834 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Texas Roadhouse by 228.4% during the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock worth $220,623,000 after buying an additional 924,306 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.