Texas Roadhouse Target of Unusually High Options Trading (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRH) was the recipient of unusually large options trading on Friday. Stock investors purchased 3,728 put options on the stock. This represents an increase of 193% compared to the typical volume of 1,273 put options.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $169.13 on Friday. The company has a market capitalization of $11.28 billion, a PE ratio of 29.06, a P/E/G ratio of 1.25 and a beta of 1.02. Texas Roadhouse has a 1-year low of $146.51 and a 1-year high of $206.04. The business has a 50-day moving average of $179.58 and a 200-day moving average of $180.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. On average, equities analysts expect that Texas Roadhouse will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.61%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Analyst Ratings Changes

Several brokerages recently issued reports on TXRH. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Royal Bank of Canada reduced their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research note on Friday. Robert W. Baird increased their price target on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, Stephens reduced their price target on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.50.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $1,794,600. The trade was a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Texas Roadhouse in the third quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Texas Roadhouse in the fourth quarter worth about $30,000. PSI Advisors LLC lifted its holdings in Texas Roadhouse by 70.8% in the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 71 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Texas Roadhouse in the fourth quarter worth about $36,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.