FY2024 EPS Estimates for Texas Roadhouse Raised by Analyst

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Research analysts at Wedbush increased their FY2024 earnings estimates for shares of Texas Roadhouse in a report released on Thursday, December 19th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $6.41 for the year, up from their prior estimate of $6.36. Wedbush currently has a “Outperform” rating and a $200.00 target price on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $6.39 per share.

Other analysts have also issued research reports about the stock. UBS Group lifted their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Citigroup boosted their target price on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Guggenheim boosted their price objective on Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus lifted their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $190.09.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $181.38 on Monday. The company’s fifty day moving average price is $191.47 and its two-hundred day moving average price is $177.42. The firm has a market capitalization of $12.10 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.59 and a beta of 0.98. Texas Roadhouse has a 12 month low of $115.48 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share.

Hedge Funds Weigh In On Texas Roadhouse

Hedge funds have recently modified their holdings of the company. Kingsview Wealth Management LLC grew its holdings in Texas Roadhouse by 3.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the period. CIBC Asset Management Inc boosted its position in shares of Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after purchasing an additional 62 shares in the last quarter. Insight Wealth Partners LLC grew its stake in shares of Texas Roadhouse by 3.9% in the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock worth $321,000 after purchasing an additional 68 shares during the last quarter. PSI Advisors LLC raised its holdings in shares of Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in shares of Texas Roadhouse by 5.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock worth $259,000 after purchasing an additional 75 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total value of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

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.