Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $145.00 by Analysts at Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by Morgan Stanley from $135.00 to $145.00 in a report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the restaurant operator’s stock.

Several other analysts also recently weighed in on the company. Piper Sandler increased their target price on Texas Roadhouse from $110.00 to $136.00 and gave the company a neutral rating in a research note on Tuesday, February 20th. Northcoast Research cut Texas Roadhouse from a buy rating to a neutral rating in a report on Tuesday, February 20th. Wedbush upped their price target on Texas Roadhouse from $160.00 to $170.00 and gave the company an outperform rating in a report on Friday, April 5th. Wells Fargo & Company upped their price target on Texas Roadhouse from $125.00 to $140.00 and gave the company an equal weight rating in a report on Friday, February 16th. Finally, UBS Group upped their price target on Texas Roadhouse from $145.00 to $155.00 and gave the company a buy rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $136.05.

Texas Roadhouse Stock Performance

TXRH opened at $148.63 on Friday. The company has a market cap of $9.93 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The stock has a 50-day moving average of $147.50 and a 200-day moving average of $123.47. Texas Roadhouse has a 52-week low of $91.06 and a 52-week high of $157.12.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. On average, research analysts predict that Texas Roadhouse will post 5.73 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 53.86%.

Insider Transactions at Texas Roadhouse

In other news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction 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 directly owns 4,142 shares in the company, valued at approximately $621,175.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the sale, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the sale, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock worth $1,843,145 in the last three months. Insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Several hedge funds have recently added to or reduced their stakes in TXRH. Bank of America Corp DE raised its stake in shares of Texas Roadhouse by 82.5% in the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock valued at $254,969,000 after purchasing an additional 1,066,581 shares during the period. Morgan Stanley raised its stake in shares of Texas Roadhouse by 154.8% in the 4th quarter. Morgan Stanley now owns 1,064,802 shares of the restaurant operator’s stock valued at $96,844,000 after purchasing an additional 646,982 shares during the period. Norges Bank acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $78,544,000. BlackRock Inc. raised its stake in shares of Texas Roadhouse by 7.8% in the 1st quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock valued at $680,519,000 after purchasing an additional 585,944 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Texas Roadhouse by 4,434,627.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 487,820 shares of the restaurant operator’s stock valued at $52,714,000 after purchasing an additional 487,809 shares during the period. Institutional investors and hedge funds 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.