Texas Roadhouse (NASDAQ:TXRH) Given New $195.00 Price Target at Citigroup

Texas Roadhouse (NASDAQ:TXRH) had its price objective lifted by Citigroup from $189.00 to $195.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts also recently weighed in on TXRH. Robert W. Baird raised Texas Roadhouse to a “strong-buy” rating in a report on Monday, August 24th. Mizuho upped their price objective on shares of Texas Roadhouse from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, October 30th. TD Cowen increased their price objective on shares of Texas Roadhouse from $195.00 to $213.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler lifted their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Stephens raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 target price on the stock in a research report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.04.

Texas Roadhouse Stock Down 4.1%

Shares of TXRH traded down $7.91 during midday trading on Friday, hitting $183.88. 1,867,609 shares of the company’s stock traded hands, compared to its average volume of 1,353,685. Texas Roadhouse has a 1 year low of $153.82 and a 1 year high of $216.30. The firm’s fifty day moving average is $172.73 and its 200-day moving average is $179.06. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Texas Roadhouse will post 6.48 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio is currently 48.00%.

Insiders Place Their Bets

In related news, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the sale, the insider owned 9,826 shares in the company, valued at $2,010,890.90. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hugh J. Carroll sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the sale, the director owned 2,883 shares in the company, valued at approximately $588,103.17. This represents a 18.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,970 shares of company stock valued at $4,061,808. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Texas Roadhouse during the 2nd quarter worth approximately $1,273,173,000. Wellington Management Group LLP raised its holdings in shares of Texas Roadhouse by 8.4% during the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after purchasing an additional 119,803 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Texas Roadhouse by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock valued at $142,670,000 after purchasing an additional 34,385 shares during the period. Bessemer Group Inc. lifted its position in Texas Roadhouse by 38.1% during the first quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock valued at $120,951,000 after purchasing an additional 202,241 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Texas Roadhouse in the second quarter valued at $113,993,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse News Summary

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

About Texas Roadhouse

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.