Texas Roadhouse (NASDAQ:TXRH) Sets New 12-Month High at $178.54

Texas Roadhouse, Inc. (NASDAQ:TXRH)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $178.54 and last traded at $177.11, with a volume of 74489 shares traded. The stock had previously closed at $175.28.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXRH. BTIG Research lifted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets upped their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Evercore ISI raised their price objective on shares of Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush upped their target price on shares of Texas Roadhouse from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Stephens lifted their price target on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.85.

Texas Roadhouse Trading Up 0.7 %

The stock has a market cap of $11.79 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. The business has a 50-day simple moving average of $167.95 and a 200 day simple moving average of $164.10.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $1.22 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be paid a $0.61 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.38%. Texas Roadhouse’s payout ratio is 49.39%.

Institutional Trading of Texas Roadhouse

Several institutional investors and hedge funds have recently bought and sold shares of TXRH. Norges Bank purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at about $78,544,000. Balyasny Asset Management L.P. lifted its holdings in Texas Roadhouse by 4,150.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after buying an additional 441,069 shares during the period. Marshall Wace LLP grew its position in shares of Texas Roadhouse by 128.9% in the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after buying an additional 430,814 shares during the last quarter. Armistice Capital LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $28,724,000. Finally, Bank of Nova Scotia lifted its position in shares of Texas Roadhouse by 5,135.0% in the 4th quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after purchasing an additional 218,287 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Company Profile

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.