Bank of America Issues Positive Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective hoisted by Bank of America from $225.00 to $227.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

TXRH has been the topic of a number of other reports. UBS Group increased their price target on Texas Roadhouse from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, September 29th. TD Cowen dropped their target price on Texas Roadhouse from $230.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Morgan Stanley raised their target price on Texas Roadhouse from $212.00 to $221.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, Evercore set a $220.00 price target on shares of Texas Roadhouse in a report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.04.

Texas Roadhouse Stock Performance

TXRH traded down $7.91 on Friday, hitting $183.88. 1,867,609 shares of the company’s stock were exchanged, compared to its average volume of 1,353,685. The firm has a market cap of $12.07 billion, a PE ratio of 28.91, a P/E/G ratio of 2.03 and a beta of 0.81. Texas Roadhouse has a twelve month low of $153.82 and a twelve month high of $216.30. The stock has a fifty day moving average of $172.73 and a two-hundred day moving average of $179.06. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business earned $1.25 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, research analysts anticipate that Texas Roadhouse will post 6.48 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 1st will be paid a $0.75 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 48.00%.

Insider Buying and Selling

In other news, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the transaction, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total value of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares of the company’s stock, valued at $16,369,704.90. This trade represents a 15.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,970 shares of company stock valued at $4,061,808 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several large investors have recently added to or reduced their stakes in TXRH. BlackRock Inc. acquired a new position in Texas Roadhouse during the 2nd quarter worth $1,273,173,000. Bank of America Corp DE bought a new position in shares of Texas Roadhouse in the second quarter worth $113,993,000. Park Presidio Capital LLC bought a new position in shares of Texas Roadhouse in the second quarter worth $102,977,000. Bank of New York Mellon Corp acquired a new position in shares of Texas Roadhouse during the second quarter valued at $95,158,000. Finally, Bamco Inc. NY acquired a new position in shares of Texas Roadhouse during the second quarter valued at $60,148,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse News Roundup

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

About Texas Roadhouse

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.