Texas Roadhouse (NASDAQ:TXRH) Sets New 12-Month High – Here’s What Happened

Texas Roadhouse, Inc. (NASDAQ:TXRH) reached a new 52-week high during trading on Wednesday . The company traded as high as $199.47 and last traded at $199.47, with a volume of 6194 shares changing hands. The stock had previously closed at $189.17.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of recent research reports. Stifel Nicolaus lifted their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on shares of Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI upped their price target on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and an average target price of $189.00.

Texas Roadhouse Stock Up 6.0 %

The business’s 50 day moving average is $175.41 and its two-hundred day moving average is $170.56. The firm has a market capitalization of $13.37 billion, a P/E ratio of 32.50, a PEG ratio of 1.58 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake in shares of Texas Roadhouse by 128.9% in the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after buying an additional 430,814 shares in the last quarter. Fiera Capital Corp acquired a new stake in Texas Roadhouse in the third quarter worth $41,670,000. AQR Capital Management LLC grew its stake in Texas Roadhouse by 22.3% in the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after acquiring an additional 165,738 shares during the period. Davidson Kempner Capital Management LP bought a new stake in Texas Roadhouse during the 2nd quarter worth approximately $21,462,000. Finally, Millennium Management LLC lifted its position in Texas Roadhouse by 25.0% in the 2nd quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after acquiring an additional 116,721 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

About Texas Roadhouse

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.