Wedbush Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective raised by Wedbush from $170.00 to $180.00 in a report published on Friday, Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Texas Roadhouse’s Q2 2024 earnings at $1.54 EPS, Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

A number of other brokerages have also weighed in on TXRH. Morgan Stanley raised their price target on shares of Texas Roadhouse from $135.00 to $145.00 and gave the company an equal weight rating in a report on Friday, April 12th. Truist Financial lifted their target price on shares of Texas Roadhouse from $152.00 to $168.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Robert W. Baird raised shares of Texas Roadhouse from a neutral rating to an outperform rating and lifted their target price for the stock from $160.00 to $175.00 in a report on Wednesday, March 13th. UBS Group lifted their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, Piper Sandler lifted their target price on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a neutral rating in a report on Tuesday, February 20th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $152.59.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $163.61 on Friday. The firm has a market cap of $10.93 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.73 and a beta of 1.00. The firm has a 50 day simple moving average of $152.50 and a 200 day simple moving average of $130.02. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. Texas Roadhouse’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, sell-side analysts expect that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.49%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 49.39%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now owns 13,397 shares in the company, valued at $1,991,865.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the transaction, the president now owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock worth $1,843,145 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Texas Roadhouse by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock worth $173,694,000 after buying an additional 29,506 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Texas Roadhouse by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock worth $154,869,000 after acquiring an additional 8,392 shares in the last quarter. Invesco Ltd. increased its stake in Texas Roadhouse by 40.7% during the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after purchasing an additional 370,627 shares in the last quarter. Victory Capital Management Inc. increased its stake in Texas Roadhouse by 26.3% during the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after purchasing an additional 205,064 shares in the last quarter. Finally, Geneva Capital Management LLC increased its stake in Texas Roadhouse by 7.9% during the 4th quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after purchasing an additional 69,536 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

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.