Guggenheim Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $195.00

Texas Roadhouse (NASDAQ:TXRH) had its target price hoisted by Guggenheim from $190.00 to $195.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on TXRH. BTIG Research increased their price target on Texas Roadhouse from $175.00 to $190.00 and gave the company a buy rating in a report on Friday, July 26th. Truist Financial raised their target price on Texas Roadhouse from $185.00 to $196.00 and gave the stock a buy rating in a report on Friday, July 26th. Evercore ISI raised their target price on Texas Roadhouse from $175.00 to $195.00 and gave the stock an outperform rating in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company a market perform rating in a research note on Friday, July 26th. Finally, Stephens raised their target price on shares of Texas Roadhouse from $170.00 to $176.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Texas Roadhouse has a consensus rating of Hold and an average price target of $172.95.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $174.90 on Wednesday. The business’s fifty day moving average price is $168.36 and its 200-day moving average price is $164.66. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.59 and a beta of 0.99. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $180.69.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. Equities research analysts anticipate that Texas Roadhouse will post 6.32 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.40%. Texas Roadhouse’s dividend payout ratio is 49.39%.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently modified their holdings of TXRH. Vanguard Group Inc. lifted its position in Texas Roadhouse by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after purchasing an additional 53,419 shares during the last quarter. AQR Capital Management LLC lifted its position in Texas Roadhouse by 22.3% during the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after purchasing an additional 165,738 shares during the last quarter. Marshall Wace LLP lifted its position in Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Texas Roadhouse by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after purchasing an additional 2,578 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Texas Roadhouse by 25.0% during the second quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after purchasing an additional 116,721 shares during 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.