Texas Roadhouse (NASDAQ:TXRH) Reaches New 1-Year High on Analyst Upgrade

Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $195.00 to $200.00. Evercore ISI currently has an outperform rating on the stock. Texas Roadhouse traded as high as $181.97 and last traded at $181.49, with a volume of 168690 shares. The stock had previously closed at $176.05.

Several other research firms also recently issued reports on TXRH. Guggenheim boosted their price objective on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Wedbush restated an “outperform” rating and set a $190.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 24th. Stephens boosted their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.15.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Texas Roadhouse by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after buying an additional 53,419 shares during the last quarter. AQR Capital Management LLC boosted 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 worth $156,230,000 after purchasing an additional 165,738 shares during the period. Marshall Wace LLP boosted 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 worth $131,375,000 after purchasing an additional 430,814 shares during the period. Bank of New York Mellon Corp boosted 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 worth $127,859,000 after purchasing an additional 2,578 shares during the period. Finally, Millennium Management LLC boosted 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 worth $100,108,000 after purchasing an additional 116,721 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Up 3.2 %

The stock has a market cap of $12.13 billion, a P/E ratio of 36.76, a PEG ratio of 1.57 and a beta of 0.99. The business has a 50-day simple moving average of $170.09 and a 200-day simple moving average of $166.82.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. The firm had revenue of $1.34 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. On average, analysts predict that Texas Roadhouse, Inc. will post 6.34 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th were given a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.34%. Texas Roadhouse’s dividend payout ratio is 49.39%.

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.