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

Texas Roadhouse (NASDAQ:TXRH) had its price objective hoisted by Morgan Stanley from $145.00 to $155.00 in a report issued on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

A number of other research firms have also issued reports on TXRH. Wedbush raised their target price on Texas Roadhouse from $170.00 to $180.00 and gave the company an outperform rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of 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 upped their price objective on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a neutral rating in a research report on Tuesday, February 20th. BMO Capital Markets boosted their price target on Texas Roadhouse from $110.00 to $130.00 and gave the company a market perform rating in a research note on Friday, February 16th. Finally, Citigroup lifted their price objective on Texas Roadhouse from $162.00 to $178.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Texas Roadhouse currently has an average rating of Hold and an average target price of $152.59.

Texas Roadhouse Trading Up 3.6 %

NASDAQ TXRH opened at $163.61 on Friday. The company has a market capitalization of $10.93 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $170.39. The firm’s fifty day simple moving average is $152.50 and its 200-day simple moving average is $130.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $1.28 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, analysts predict that Texas Roadhouse will post 5.9 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, March 12th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a dividend yield of 1.49%. Texas Roadhouse’s payout ratio is currently 49.39%.

Insider Buying and Selling

In other news, Director Donna E. Epps sold 670 shares of the company’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 transaction, the director now owns 4,142 shares of the company’s stock, valued at $621,175.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 670 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the sale, the director now directly owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,382 shares of company stock worth $1,843,145. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Comerica Bank bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at $10,585,000. Bamco Inc. NY grew its holdings in Texas Roadhouse by 16.9% in the third quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator’s stock worth $28,466,000 after purchasing an additional 42,755 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Texas Roadhouse by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator’s stock valued at $72,523,000 after purchasing an additional 8,219 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Texas Roadhouse during the third quarter valued at about $8,748,000. Finally, Boston Trust Walden Corp boosted its position in shares of Texas Roadhouse by 12.9% during the 4th quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after purchasing an additional 89,019 shares in the last quarter. 94.82% of the stock is owned by 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.