Citigroup Issues Positive Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price target hoisted by Citigroup from $212.00 to $213.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other research analysts have also recently weighed in on the company. Loop Capital reduced their target price on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Wedbush decreased their target price on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial cut their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday. Finally, BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Moderate Buy” and a consensus price target of $192.50.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $169.13 on Friday. The firm’s 50-day simple moving average is $179.58 and its 200-day simple moving average is $180.02. Texas Roadhouse has a 1-year low of $146.51 and a 1-year high of $206.04. The firm has a market cap of $11.28 billion, a P/E ratio of 26.14, a PEG ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Analysts expect that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.61%. Texas Roadhouse’s payout ratio is currently 37.71%.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC raised its stake in shares of Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares in the last quarter. Cornerstone Investment Partners LLC raised its stake in Texas Roadhouse by 2.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after buying an additional 56 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in Texas Roadhouse by 3.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock worth $289,000 after buying an additional 60 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Texas Roadhouse by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after acquiring an additional 62 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after acquiring an additional 65 shares in the last quarter. Institutional investors 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.