Texas Roadhouse (NASDAQ:TXRH) Reaches New 1-Year High - Still a Buy?

Key Points

• Texas Roadhouse shares hit a new 52-week high, trading around $200.60 after rising 3.6%. The stock has a $13.16 billion market capitalization and trades at a P/E ratio of 32.01.
• Analyst sentiment is mixed: ten analysts rate the stock a Buy and thirteen rate it a Hold, producing an overall “Hold” consensus and an average price target of $194.90. Wells Fargo and RBC have issued more bullish targets of $220 and $210, respectively.
• The company reported quarterly EPS of $1.87, beating estimates by $0.07, while revenue increased 10.5% year over year to $1.63 billion. Texas Roadhouse also pays a quarterly dividend of $0.75, equivalent to a 1.5% annual yield.

Texas Roadhouse, Inc. (NASDAQ:TXRH - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $200.15 and last traded at $200.5980, with a volume of 240358 shares changing hands. The stock had previously closed at $193.27.

Analyst Ratings Changes

TXRH has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a "market perform" rating in a research report on Thursday, May 21st. Piper Sandler increased their target price on shares of Texas Roadhouse from $190.00 to $192.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of Texas Roadhouse in a report on Friday, May 29th. Royal Bank Of Canada upgraded Texas Roadhouse from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $180.00 to $210.00 in a research report on Friday, May 15th. Finally, Wells Fargo & Company raised their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of "Hold" and an average target price of $194.90.

Texas Roadhouse Stock Up 3.6%

The stock has a 50 day moving average price of $181.84 and a 200 day moving average price of $177.38. The company has a market capitalization of $13.16 billion, a P/E ratio of 32.01, a PEG ratio of 2.14 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the previous year, the business posted $1.70 EPS. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Texas Roadhouse, Inc. will post 6.45 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were given a $0.75 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse's payout ratio is presently 47.92%.

Insider Transactions at Texas Roadhouse

In other news, insider Lloyd Paul Marshall sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the transaction, the insider owned 10,326 shares in the company, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory N. Moore sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total value of $222,675.00. Following the transaction, the director directly owned 30,900 shares of the company's stock, valued at $5,504,526. The trade was a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,154 shares of company stock valued at $1,115,864. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors have recently made changes to their positions in TXRH. AQR Capital Management LLC lifted its position in Texas Roadhouse by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator's stock valued at $443,901,000 after purchasing an additional 575,685 shares during the period. Capital World Investors lifted its position in Texas Roadhouse by 13.4% during the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator's stock valued at $421,190,000 after purchasing an additional 300,405 shares during the last quarter. UBS Group AG increased its stake in Texas Roadhouse by 60.4% during the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator's stock worth $230,317,000 after acquiring an additional 522,509 shares during the last quarter. Geode Capital Management LLC lifted its position in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator's stock worth $226,984,000 after buying an additional 24,834 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Texas Roadhouse by 228.4% in the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock worth $220,623,000 after purchasing an additional 924,306 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

About Texas Roadhouse

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.

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