Texas Roadhouse (NASDAQ:TXRH) Price Target Raised to $155.00 at Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by equities research analysts at Morgan Stanley from $145.00 to $155.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price target indicates a potential downside of 5.26% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Barclays upped their price target on shares of Texas Roadhouse from $138.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday. BMO Capital Markets increased their target price on Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Piper Sandler raised their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Finally, Wedbush boosted their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Texas Roadhouse has an average rating of “Hold” and an average price target of $151.30.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $163.61 on Friday. The company has a market capitalization of $10.93 billion, a PE ratio of 33.12, a P/E/G ratio of 1.77 and a beta of 1.00. The company has a 50 day moving average price of $152.50 and a 200-day moving average price of $129.78. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $1.28 EPS. Texas Roadhouse’s revenue was up 12.5% on a year-over-year basis. On average, analysts forecast that Texas Roadhouse will post 5.9 earnings per share for the current year.

Insider Activity

In related news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the transaction, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the sale, the director now directly owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the transaction, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock worth $1,843,145 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several institutional investors have recently modified their holdings of TXRH. Red Spruce Capital LLC lifted its stake in Texas Roadhouse by 0.5% in the 4th quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after buying an additional 110 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Texas Roadhouse by 3.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after acquiring an additional 111 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 125 shares during the last quarter. Prospector Partners LLC increased its position in shares of Texas Roadhouse by 0.4% during the third quarter. Prospector Partners LLC now owns 34,575 shares of the restaurant operator’s stock worth $3,323,000 after purchasing an additional 150 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Texas Roadhouse by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 29,360 shares of the restaurant operator’s stock valued at $2,821,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.