Texas Roadhouse (NASDAQ:TXRH) Upgraded to Overweight at Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $213.00 price target on the restaurant operator’s stock, up from their prior price target of $205.00. Morgan Stanley’s price objective indicates a potential upside of 19.03% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital cut their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $200.00 price target on shares of Texas Roadhouse in a research note on Thursday, January 16th. Evercore ISI upped their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Guggenheim boosted their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $191.26.

Texas Roadhouse Price Performance

TXRH opened at $178.95 on Tuesday. The firm has a market capitalization of $11.94 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Texas Roadhouse has a one year low of $117.98 and a one year high of $206.04. The company has a fifty day moving average price of $188.75 and a 200-day moving average price of $179.00.

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

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of Texas Roadhouse stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the transaction, the director now owns 3,532 shares of the company’s stock, valued at $691,071.12. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the sale, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,480 shares of company stock worth $668,603 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TXRH. True Wealth Design LLC bought a new stake in Texas Roadhouse during the third quarter valued at about $30,000. PSI Advisors LLC grew its position in shares of Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. UMB Bank n.a. raised its stake in Texas Roadhouse by 118.6% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 140 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 65 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Texas Roadhouse in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors 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.