Wedbush Reiterates “Outperform” Rating for Texas Roadhouse (NASDAQ:TXRH)

Wedbush restated their outperform rating on shares of Texas Roadhouse (NASDAQ:TXRH) in a report published on Tuesday, Benzinga reports. Wedbush currently has a $190.00 target price on the restaurant operator’s stock. Wedbush also issued estimates for Texas Roadhouse’s Q3 2024 earnings at $1.34 EPS, Q4 2024 earnings at $1.56 EPS, FY2024 earnings at $6.37 EPS, Q1 2025 earnings at $1.93 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.61 EPS and FY2025 earnings at $6.94 EPS.

TXRH has been the subject of several other research reports. Morgan Stanley raised their target price on Texas Roadhouse from $155.00 to $162.00 and gave the stock an equal weight rating in a research report on Tuesday, July 16th. Evercore ISI raised their price objective on Texas Roadhouse from $175.00 to $195.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on Texas Roadhouse from $165.00 to $175.00 and gave the company a sector perform rating in a report on Friday, June 7th. Wells Fargo & Company increased their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a market perform rating in a research report on Friday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $172.95.

Texas Roadhouse Price Performance

Shares of TXRH opened at $174.90 on Tuesday. The company has a 50-day moving average of $168.29 and a two-hundred day moving average of $164.47. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 1.59 and a beta of 0.99. Texas Roadhouse has a one year low of $91.06 and a one year high of $180.69.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Texas Roadhouse will post 6.32 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.61 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.40%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Texas Roadhouse by 12.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock worth $128,000 after purchasing an additional 85 shares during the last quarter. Gries Financial LLC boosted its position in shares of Texas Roadhouse by 6.5% in the second quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator’s stock valued at $322,000 after acquiring an additional 114 shares during the period. Advisors Asset Management Inc. increased its position in Texas Roadhouse by 4.8% during the first quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock worth $414,000 after acquiring an additional 122 shares during the period. Signaturefd LLC raised its stake in Texas Roadhouse by 8.0% during the 2nd quarter. Signaturefd LLC now owns 1,883 shares of the restaurant operator’s stock valued at $323,000 after purchasing an additional 140 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Roadhouse in the 2nd quarter valued at $25,000. Institutional investors own 94.82% of the company’s stock.

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.