JPMorgan Chase & Co. Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its target price reduced by JPMorgan Chase & Co. from $185.00 to $184.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator’s stock.

TXRH has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Truist Financial cut their price target on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target on the stock. Citigroup raised their price target on Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average target price of $192.91.

Texas Roadhouse Trading Down 0.5 %

NASDAQ:TXRH opened at $169.88 on Thursday. The firm has a market cap of $11.29 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The stock has a fifty day moving average price of $176.79 and a 200 day moving average price of $181.24. Texas Roadhouse has a 12-month low of $146.75 and a 12-month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Equities analysts forecast that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is currently 42.04%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the sale, the president now owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $181.94, for a total value of $105,525.20. Following the sale, the insider now directly owns 12,000 shares in the company, valued at $2,183,280. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in shares of Texas Roadhouse by 8,594.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after acquiring an additional 3,094 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Texas Roadhouse in the 3rd quarter valued at about $17,853,000. Victory Capital Management Inc. lifted its holdings in Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock valued at $11,962,000 after purchasing an additional 44,768 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Texas Roadhouse during the 4th quarter worth about $316,000. Finally, First Hawaiian Bank purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth about $1,554,000. Hedge funds and other 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.