Morgan Stanley Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $162.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective hoisted by research analysts at Morgan Stanley from $155.00 to $162.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective indicates a potential downside of 6.62% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday, June 7th. Wedbush boosted their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Stephens lifted their price target on Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Truist Financial upped their price objective on Texas Roadhouse from $183.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus target price of $162.00.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH traded up $3.78 during trading on Tuesday, hitting $173.48. 229,577 shares of the company’s stock were exchanged, compared to its average volume of 793,106. The business’s 50-day simple moving average is $169.22 and its 200 day simple moving average is $151.32. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 1.64 and a beta of 1.01. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm posted $1.28 EPS. The company’s revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts anticipate that Texas Roadhouse will post 6.03 EPS for the current fiscal year.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 3,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $168.60, for a total value of $505,800.00. Following the transaction, the chief technology officer now owns 17,842 shares of the company’s stock, valued at $3,008,161.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Texas Roadhouse news, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the transaction, the director now owns 12,372 shares in the company, valued at $2,051,525.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 3,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $168.60, for a total transaction of $505,800.00. Following the sale, the chief technology officer now owns 17,842 shares of the company’s stock, valued at approximately $3,008,161.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,025 shares of company stock worth $3,251,266. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently modified their holdings of TXRH. Bridgefront Capital LLC acquired a new position in Texas Roadhouse during the fourth quarter worth $736,000. Bank of Nova Scotia boosted its position in Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after acquiring an additional 218,287 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Texas Roadhouse by 158.3% in the first quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock worth $3,477,000 after acquiring an additional 13,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Texas Roadhouse during the 1st quarter valued at $4,522,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Texas Roadhouse by 54.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after purchasing an additional 29,833 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

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.