Texas Roadhouse (NASDAQ:TXRH) Rating Increased to Outperform at Robert W. Baird (2024)

Posted by MarketBeat News on Mar 16th, 2024

Robert W. Baird upgraded shares of Texas Roadhouse (NASDAQ:TXRH – Free Report) from a neutral rating to an outperform rating in a report published on Wednesday, Marketbeat.com reports. They currently have $175.00 price objective on the restaurant operator’s stock, up from their prior price objective of $160.00.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Texas Roadhouse from $120.00 to $142.00 and gave the stock a neutral rating in a report on Monday, February 26th. Stephens upped their price objective on Texas Roadhouse from $105.00 to $135.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Truist Financial increased their target price on shares of Texas Roadhouse from $137.00 to $152.00 and gave the stock a buy rating in a report on Friday, February 16th. Wedbush increased their price objective on shares of Texas Roadhouse from $145.00 to $160.00 and gave the company an outperform rating in a research note on Friday, February 16th. Finally, Northcoast Research cut Texas Roadhouse from a buy rating to a neutral rating in a research note on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $131.52.

Check Out Our Latest Research Report on TXRH

Texas Roadhouse Stock Performance

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Shares of TXRH opened at $152.26 on Wednesday. The stock has a fifty day moving average price of $135.47 and a two-hundred day moving average price of $116.23. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $157.12. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 1.70 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Texas Roadhouse will post 5.71 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.60%. Texas Roadhouse’s dividend payout ratio is 53.86%.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $118.26, for a total transaction of $591,300.00. Following the completion of the sale, the chief executive officer now owns 79,824 shares in the company, valued at $9,439,986.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $118.26, for a total value of $591,300.00. Following the completion of the transaction, the chief executive officer now owns 79,824 shares of the company’s stock, valued at $9,439,986.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the transaction, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The disclosure for this sale can be found here. Insiders sold a total of 19,393 shares of company stock valued at $2,674,137 in the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors and hedge funds have recently made changes to their positions in TXRH. Raymond James Financial Services Advisors Inc. increased its position in Texas Roadhouse by 14.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,983 shares of the restaurant operator’s stock worth $752,000 after purchasing an additional 1,156 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in Texas Roadhouse by 11.4% in the 1st quarter. Natixis Advisors L.P. now owns 19,852 shares of the restaurant operator’s stock worth $1,662,000 after acquiring an additional 2,029 shares during the period. Acadian Asset Management LLC purchased a new position in Texas Roadhouse in the 1st quarter worth approximately $241,000. Rhumbline Advisers boosted its stake in shares of Texas Roadhouse by 3.3% in the first quarter. Rhumbline Advisers now owns 193,677 shares of the restaurant operator’s stock valued at $16,217,000 after purchasing an additional 6,116 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Texas Roadhouse by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,524 shares of the restaurant operator’s stock valued at $2,137,000 after purchasing an additional 2,433 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Company Profile

(Get Free Report)

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.

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