Texas Roadhouse (NASDAQ:TXRH) Stock Rating Upgraded by Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $213.00 target price on the restaurant operator’s stock, up from their prior target price of $205.00. Morgan Stanley’s price target indicates a potential upside of 18.31% from the company’s current price.

A number of other analysts also recently commented on the company. Evercore ISI upped their price objective on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Wedbush restated an “outperform” rating and set a $200.00 price target on shares of Texas Roadhouse in a research note on Thursday, December 19th. Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a research note on Wednesday, January 8th. Truist Financial boosted their target price on Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Guggenheim raised their price target on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $191.26.

Texas Roadhouse Price Performance

TXRH opened at $180.04 on Tuesday. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Texas Roadhouse has a 12 month low of $121.29 and a 12 month high of $206.04. The business has a 50-day moving average of $188.47 and a two-hundred day moving average of $179.08.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. Equities research analysts anticipate that Texas Roadhouse will post 6.4 earnings per share for the current year.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,480 shares of company stock valued at $668,603. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Texas Roadhouse by 16.0% in the fourth quarter. Pacer Advisors Inc. now owns 13,631 shares of the restaurant operator’s stock worth $2,459,000 after purchasing an additional 1,880 shares during the period. KBC Group NV lifted its position in shares of Texas Roadhouse by 51.5% in the 4th quarter. KBC Group NV now owns 2,655 shares of the restaurant operator’s stock worth $479,000 after buying an additional 903 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Texas Roadhouse by 43.1% in the 4th quarter. Blue Trust Inc. now owns 674 shares of the restaurant operator’s stock worth $119,000 after buying an additional 203 shares during the last quarter. Running Oak Capital LLC boosted its holdings in shares of Texas Roadhouse by 2.1% in the 4th quarter. Running Oak Capital LLC now owns 81,757 shares of the restaurant operator’s stock valued at $14,751,000 after buying an additional 1,703 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Texas Roadhouse by 21.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 1,765 shares of the restaurant operator’s stock valued at $318,000 after buying an additional 306 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

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.