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

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

Other equities research analysts have also issued reports about the company. Stephens boosted their target price on Texas Roadhouse from $150.00 to $164.00 and gave the stock an equal weight rating in a report on Friday. UBS Group upped their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a buy rating in a report on Friday, February 16th. Robert W. Baird lifted their target price on shares of Texas Roadhouse from $178.00 to $182.00 and gave the stock an outperform rating in a report on Friday. Jefferies Financial Group boosted their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Finally, Benchmark assumed coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a hold rating on the stock. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $155.55.

Texas Roadhouse Stock Up 2.5 %

TXRH stock opened at $167.74 on Friday. The firm has a 50 day moving average of $152.85 and a two-hundred day moving average of $130.52. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $170.39. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 1.73 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $1.28 earnings per share. Texas Roadhouse’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts expect that Texas Roadhouse will post 5.9 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, March 12th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is currently 49.39%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Curtis Warfield sold 2,365 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now owns 13,397 shares in the company, valued at $1,991,865.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the transaction, the president now directly owns 15,261 shares in the company, valued at $2,290,218.27. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Texas Roadhouse

A number of hedge funds and other institutional investors have recently made changes to their positions in TXRH. Commonwealth Equity Services LLC lifted its position in Texas Roadhouse by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock worth $630,000 after buying an additional 203 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Texas Roadhouse by 15.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock valued at $1,404,000 after purchasing an additional 1,977 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $213,000. Park Avenue Securities LLC bought a new position in Texas Roadhouse in the 3rd quarter worth approximately $474,000. Finally, Inspire Investing LLC lifted its holdings in Texas Roadhouse by 12.8% during the 3rd quarter. Inspire Investing LLC now owns 13,018 shares of the restaurant operator’s stock worth $1,251,000 after buying an additional 1,477 shares in the last quarter. 94.82% of the stock is currently 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.