Bank of America Raises Texas Roadhouse (NASDAQ:TXRH) Price Target to $234.00

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Bank of America from $206.00 to $234.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other brokerages also recently commented on TXRH. Stephens boosted their target price on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI upped their price objective on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $178.60.

Texas Roadhouse Trading Up 1.1 %

TXRH stock opened at $180.90 on Tuesday. Texas Roadhouse has a 1-year low of $93.79 and a 1-year high of $184.19. The firm has a market cap of $12.06 billion, a P/E ratio of 32.83, a P/E/G ratio of 1.61 and a beta of 0.99. The business’s 50 day moving average is $172.00 and its 200-day moving average is $168.06.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping the consensus estimate of $1.64 by $0.15. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. Texas Roadhouse’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. Sell-side analysts forecast that Texas Roadhouse will post 6.37 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were paid a $0.61 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.35%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 44.28%.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently bought and sold shares of TXRH. B. Riley Wealth Advisors Inc. acquired a new stake in Texas Roadhouse in the 4th quarter valued at about $404,000. Global Assets Advisory LLC acquired a new stake in Texas Roadhouse during the first quarter worth approximately $2,565,000. Janiczek Wealth Management LLC lifted its position in Texas Roadhouse by 13.5% during the first quarter. Janiczek Wealth Management LLC now owns 1,607 shares of the restaurant operator’s stock worth $248,000 after acquiring an additional 191 shares during the last quarter. Chatham Capital Group Inc. lifted its position in Texas Roadhouse by 11.5% during the first quarter. Chatham Capital Group Inc. now owns 23,120 shares of the restaurant operator’s stock worth $3,571,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Texas Roadhouse by 54.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after acquiring an additional 29,833 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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.