Texas Roadhouse (NASDAQ:TXRH) Hits New 1-Year High – Here’s Why

Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) hit a new 52-week high on Monday . The stock traded as high as $200.15 and last traded at $200.5980, with a volume of 240358 shares changing hands. The stock had previously closed at $193.27.

Analysts Set New Price Targets

TXRH has been the topic of several recent research reports. Wall Street Zen upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Stifel Nicolaus lifted their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. Finally, Piper Sandler raised their price target on shares of Texas Roadhouse from $190.00 to $192.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Texas Roadhouse presently has an average rating of “Hold” and a consensus price target of $194.90.

Texas Roadhouse Stock Performance

The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.78. The firm has a fifty day simple moving average of $182.93 and a 200 day simple moving average of $177.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping 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 business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company posted $1.70 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that Texas Roadhouse, Inc. will post 6.45 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a $0.75 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio (DPR) is 47.92%.

Insider Activity

In other news, Director Curtis Warfield sold 2,640 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $183.05, for a total value of $483,252.00. Following the sale, the director directly owned 5,361 shares of the company’s stock, valued at $981,331.05. The trade was a 33.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher C. Colson sold 499 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the sale, the insider directly owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 6,154 shares of company stock worth $1,115,864. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently bought and sold shares of TXRH. Oak Thistle LLC purchased a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $1,553,000. Stephens Investment Management Group LLC lifted its position in Texas Roadhouse by 98.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock worth $61,457,000 after buying an additional 183,422 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Texas Roadhouse during the fourth quarter worth approximately $977,000. Amica Mutual Insurance Co. acquired a new position in Texas Roadhouse during the fourth quarter worth $989,000. Finally, Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after buying an additional 24,834 shares during the last quarter. 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.