Royal Bank of Canada Cuts Texas Roadhouse (NASDAQ:TXRH) Price Target to $180.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective reduced by Royal Bank of Canada from $200.00 to $180.00 in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the restaurant operator’s stock.

Several other analysts also recently commented on the stock. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research report on Wednesday, January 8th. Wedbush cut their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Finally, Robert W. Baird boosted their target price on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.50.

Texas Roadhouse Trading Down 1.4 %

Shares of TXRH opened at $169.13 on Friday. The firm’s fifty day simple moving average is $179.58 and its two-hundred day simple moving average is $180.02. Texas Roadhouse has a 12 month low of $146.51 and a 12 month high of $206.04. The stock has a market capitalization of $11.28 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts predict that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.61%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s payout ratio is currently 37.71%.

Insider Activity

In other news, insider Christopher C. Colson sold 1,370 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Texas Roadhouse

A number of institutional investors and hedge funds have recently modified their holdings of TXRH. Kingsview Wealth Management LLC grew its stake in Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares during the period. Cornerstone Investment Partners LLC raised its stake in shares of Texas Roadhouse by 2.7% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock worth $390,000 after purchasing an additional 56 shares during the period. Lifestyle Asset Management Inc. boosted its holdings in shares of Texas Roadhouse by 3.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock worth $289,000 after buying an additional 60 shares during the last quarter. CIBC Asset Management Inc grew its position in Texas Roadhouse by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the period. 94.82% of the stock is owned by hedge funds and other 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.