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 during mid-day trading on Monday . The company traded as high as $212.17 and last traded at $212.6850, with a volume of 52673 shares changing hands. The stock had previously closed at $205.44.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Texas Roadhouse from $200.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus upped their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Mizuho raised their price objective on Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Barclays decreased their target price on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a report 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.40.

Texas Roadhouse Stock Performance

The company’s fifty day simple moving average is $184.71 and its two-hundred day simple moving average is $178.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The stock has a market capitalization of $13.88 billion, a P/E ratio of 33.74, a PEG ratio of 2.27 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 6.45 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.4%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 47.92%.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 499 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the sale, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,250 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 30,900 shares of the company’s stock, valued at $5,504,526. This represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,154 shares of company stock valued at $1,115,864 in the last three months. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently made changes to their positions in TXRH. Elyxium Wealth LLC acquired a new position in Texas Roadhouse in the 4th quarter valued at $25,000. Basecamp Wealth Advisors LLC increased its position in shares of Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 151 shares during the period. Princeton Global Asset Management LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at about $31,000. Measured Wealth Private Client Group LLC acquired a new position in Texas Roadhouse in the third quarter valued at about $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in Texas Roadhouse during the fourth quarter worth about $34,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

About Texas Roadhouse

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.