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

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

TXRH has been the subject of a number of other reports. Truist Financial upped their price target on Texas Roadhouse from $170.00 to $181.00 and gave the company a buy rating in a report on Friday. Barclays upped their target price on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an equal weight rating in a report on Friday. Wedbush lifted their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock an outperform rating in a research note on Friday. Jefferies Financial Group boosted their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Finally, Citigroup raised their price objective on Texas Roadhouse from $162.00 to $178.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Thirteen equities 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.com, the company has a consensus rating of Hold and an average price target of $155.55.

Texas Roadhouse Trading Up 2.5 %

Shares of TXRH opened at $167.74 on Friday. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.73 and a beta of 1.00. The firm’s fifty day simple moving average is $152.85 and its 200-day simple moving average is $130.52. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. Texas Roadhouse’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. On average, analysts predict that Texas Roadhouse will post 5.9 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a yield of 1.45%. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

Insider Activity

In related news, President Regina A. Tobin sold 3,064 shares of the firm’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 of the company’s stock, valued at approximately $2,290,218.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Hernan E. Mujica sold 878 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $149.61, for a total transaction of $131,357.58. Following the completion of the transaction, the chief technology officer now directly owns 22,361 shares in the company, valued at approximately $3,345,429.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. In the last three months, insiders sold 12,382 shares of company stock worth $1,843,145. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of institutional investors have recently made changes to their positions in TXRH. Norges Bank acquired a new position in Texas Roadhouse in the 4th quarter valued at about $78,544,000. Balyasny Asset Management L.P. lifted its stake in shares of Texas Roadhouse by 4,150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after buying an additional 441,069 shares during the period. Invesco Ltd. boosted its position in Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after acquiring an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Texas Roadhouse by 60.9% during the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock worth $74,756,000 after acquiring an additional 294,425 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in Texas Roadhouse in the 4th quarter worth approximately $28,724,000. 94.82% of the stock is owned by institutional investors and hedge funds.

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.