Texas Roadhouse (NASDAQ:TXRH) Reaches New 1-Year High – Here’s Why

Texas Roadhouse, Inc. (NASDAQ:TXRH) shares reached a new 52-week high on Wednesday . The company traded as high as $213.47 and last traded at $213.40, with a volume of 260841 shares changing hands. The stock had previously closed at $209.82.

Analyst Ratings Changes

Several equities analysts recently weighed in on TXRH shares. Royal Bank Of Canada lifted their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Stifel Nicolaus raised their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a research report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Finally, Stephens boosted their price target on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $208.48.

Texas Roadhouse Stock Up 1.6%

The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $14.02 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.06 and a beta of 0.79. The business has a 50-day moving average price of $188.96 and a 200-day moving average price of $179.01.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Texas Roadhouse, Inc. will post 6.58 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the transaction, the general counsel owned 860 shares in the company, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Christopher C. Colson sold 499 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total value of $89,430.78. Following the transaction, the insider directly owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,264 shares of company stock worth $409,937. 0.50% of the stock is owned by company insiders.

Institutional Trading of Texas Roadhouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXRH. Elyxium Wealth LLC acquired a new stake in Texas Roadhouse during the 4th quarter worth approximately $25,000. Basecamp Wealth Advisors LLC grew its stake in shares of Texas Roadhouse by 5,033.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Silvant Capital Management LLC acquired a new position in shares of Texas Roadhouse in the second quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Texas Roadhouse in the third quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.