Texas Roadhouse (NASDAQ:TXRH) Shares Up 4% - Here's What Happened

Key Points

• Texas Roadhouse shares increased by 4%, trading highest at $181.00 before settling at $179.61, with a notable drop in trading volume compared to the average.
• Wall Street analysts have a consensus rating of Moderate Buy for Texas Roadhouse, with price targets ranging from $175.00 to $212.00.
• The company reported earnings of $1.86 per share in its last quarter, which was below expectations, despite a 12.7% increase in revenue year-over-year.

Texas Roadhouse, Inc. (NASDAQ:TXRH - Get Free Report) was up 4% on Friday . The company traded as high as $181.00 and last traded at $179.61. Approximately 461,631 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,116,458 shares. The stock had previously closed at $172.74.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TXRH shares. Guggenheim reaffirmed a "buy" rating and issued a $210.00 target price on shares of Texas Roadhouse in a report on Tuesday, September 16th. Barclays boosted their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Stephens set a $175.00 price objective on Texas Roadhouse in a report on Monday. Finally, Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the company a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse has a consensus rating of "Moderate Buy" and a consensus price target of $195.25.

Texas Roadhouse Stock Performance

The stock has a market capitalization of $11.71 billion, a P/E ratio of 26.92, a PEG ratio of 2.55 and a beta of 0.82. The firm's 50-day simple moving average is $168.89 and its 200 day simple moving average is $176.81.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.79 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. As a group, research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Texas Roadhouse's payout ratio is presently 41.53%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares in the company, valued at approximately $2,648,241.33. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC boosted its position in Texas Roadhouse by 19.6% during the 3rd quarter. Sowell Financial Services LLC now owns 1,606 shares of the restaurant operator's stock worth $267,000 after buying an additional 263 shares during the period. Blue Trust Inc. raised its position in shares of Texas Roadhouse by 10.8% during the third quarter. Blue Trust Inc. now owns 2,616 shares of the restaurant operator's stock worth $435,000 after acquiring an additional 254 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Texas Roadhouse by 59.4% in the third quarter. Pacer Advisors Inc. now owns 8,750 shares of the restaurant operator's stock valued at $1,454,000 after acquiring an additional 3,259 shares during the last quarter. Albert D Mason Inc. increased its position in shares of Texas Roadhouse by 5.9% during the third quarter. Albert D Mason Inc. now owns 4,034 shares of the restaurant operator's stock worth $670,000 after buying an additional 224 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Texas Roadhouse by 120.2% in the third quarter. Farther Finance Advisors LLC now owns 687 shares of the restaurant operator's stock valued at $114,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

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.

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