Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $234.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by Bank of America from $206.00 to $234.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

TXRH has been the subject of a number of other reports. Guggenheim upped their price objective on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Citigroup upped their target price on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Stephens lifted their price target on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Truist Financial increased their price objective on Texas Roadhouse from $196.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $188.00.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $187.38 on Tuesday. Texas Roadhouse has a 1 year low of $93.79 and a 1 year high of $189.97. The firm’s 50-day moving average is $172.41 and its 200-day moving average is $168.32. The company has a market cap of $12.49 billion, a P/E ratio of 34.01, a PEG ratio of 1.61 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. As a group, sell-side analysts predict that Texas Roadhouse will post 6.37 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio is presently 44.28%.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently modified their holdings of the stock. LRI Investments LLC purchased a new position in Texas Roadhouse in the 1st quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Roadhouse in the second quarter worth approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of Texas Roadhouse during the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. lifted its position in shares of Texas Roadhouse by 4,175.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Finally, PSI Advisors LLC boosted its stake in Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

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.