Texas Roadhouse (NASDAQ:TXRH) Hits New 12-Month High at $161.58

Texas Roadhouse, Inc. (NASDAQ:TXRH) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $161.58 and last traded at $161.16, with a volume of 212900 shares changing hands. The stock had previously closed at $159.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Morgan Stanley increased their price target on shares of Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Wells Fargo & Company increased their price target on shares of Texas Roadhouse from $125.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $110.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Finally, UBS Group increased their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $138.76.

Texas Roadhouse Stock Performance

The stock’s fifty day moving average is $152.03 and its two-hundred day moving average is $128.86. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 53.86%.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Hernan E. Mujica sold 878 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $149.61, for a total transaction of $131,357.58. Following the transaction, the chief technology officer now directly owns 22,361 shares of the company’s stock, valued at $3,345,429.21. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock valued at $1,843,145 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TXRH. Operose Advisors LLC bought a new position in shares of Texas Roadhouse in the 3rd quarter worth about $28,000. Rise Advisors LLC bought a new position in shares of Texas Roadhouse in the 1st quarter worth about $32,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Texas Roadhouse by 454.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Texas Roadhouse by 35.8% in the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after buying an additional 125 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Texas Roadhouse by 100.0% in the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after buying an additional 290 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

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.