Texas Roadhouse (NASDAQ:TXRH) Given New $175.00 Price Target at Barclays

Texas Roadhouse (NASDAQ:TXRH) had its price target raised by Barclays from $160.00 to $175.00 in a research report sent to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently commented on TXRH. Robert W. Baird raised their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday. Wells Fargo & Company increased their price target on Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, BTIG Research boosted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $188.00.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded up $6.48 during mid-day trading on Friday, reaching $187.38. 1,488,827 shares of the company’s stock traded hands, compared to its average volume of 772,449. The firm has a market capitalization of $12.49 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. Texas Roadhouse has a 12 month low of $93.79 and a 12 month high of $189.97. The firm has a 50 day moving average price of $172.41 and a two-hundred day moving average price of $168.32.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.07). Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities analysts expect that Texas Roadhouse will post 6.37 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.30%. Texas Roadhouse’s payout ratio is currently 44.28%.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors have recently modified their holdings of TXRH. New York State Teachers Retirement System increased its position in shares of Texas Roadhouse by 0.8% during the 3rd quarter. New York State Teachers Retirement System now owns 90,698 shares of the restaurant operator’s stock valued at $16,017,000 after purchasing an additional 760 shares during the last quarter. abrdn plc boosted its stake in Texas Roadhouse by 33.8% during the third quarter. abrdn plc now owns 212,039 shares of the restaurant operator’s stock worth $37,446,000 after buying an additional 53,549 shares during the period. Pallas Capital Advisors LLC increased its position in Texas Roadhouse by 17.5% during the third quarter. Pallas Capital Advisors LLC now owns 5,295 shares of the restaurant operator’s stock valued at $958,000 after acquiring an additional 789 shares during the last quarter. Custom Index Systems LLC bought a new position in Texas Roadhouse during the third quarter valued at $418,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Texas Roadhouse by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 7,767 shares of the restaurant operator’s stock valued at $1,371,000 after acquiring an additional 525 shares during the period. 94.82% of the stock is owned by institutional investors.

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.