Morgan Stanley Forecasts Strong Price Appreciation for Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by research analysts at Morgan Stanley from $200.00 to $205.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s target price suggests a potential upside of 11.01% from the stock’s current price.

Several other analysts have also recently issued reports on TXRH. JPMorgan Chase & Co. cut their target price on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Robert W. Baird set a $180.00 price target on Texas Roadhouse and gave the stock an “outperform” rating in a research note on Monday, April 7th. Wedbush lifted their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. The Goldman Sachs Group boosted their target price on shares of Texas Roadhouse from $184.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Finally, Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.09.

Texas Roadhouse Price Performance

TXRH opened at $184.66 on Monday. The company has a 50 day simple moving average of $189.42 and a two-hundred day simple moving average of $178.77. The firm has a market cap of $12.25 billion, a P/E ratio of 28.50, a PEG ratio of 2.52 and a beta of 0.87. Texas Roadhouse has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.69 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts anticipate that Texas Roadhouse will post 7.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Donna E. Epps sold 800 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director owned 4,632 shares in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total transaction of $187,620.00. Following the transaction, the director directly owned 38,050 shares of the company’s stock, valued at approximately $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Brooklyn Investment Group boosted its holdings in Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 134 shares during the period. Coppell Advisory Solutions LLC increased its stake in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 71 shares during the period. Bogart Wealth LLC bought a new stake in shares of Texas Roadhouse during the first quarter worth $33,000. Farther Finance Advisors LLC boosted its stake in shares of Texas Roadhouse by 22.8% during the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 58 shares during the period. Finally, WPG Advisers LLC purchased a new stake in shares of Texas Roadhouse during the first quarter valued at $59,000. Institutional investors 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.