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

Texas Roadhouse (NASDAQ:TXRH) had its target price increased by Morgan Stanley from $135.00 to $145.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

A number of other analysts have also recently commented on TXRH. Benchmark began coverage on shares of Texas Roadhouse in a report on Wednesday, April 10th. They set a hold rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Truist Financial lifted their target price on shares of Texas Roadhouse from $152.00 to $168.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Piper Sandler upped their price target on Texas Roadhouse from $110.00 to $136.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird raised Texas Roadhouse from a neutral rating to an outperform rating and raised their price objective for the company from $160.00 to $175.00 in a research report on Wednesday, March 13th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $136.05.

Texas Roadhouse Price Performance

Shares of TXRH opened at $148.72 on Friday. The company has a 50-day simple moving average of $147.91 and a two-hundred day simple moving average of $124.06. The firm has a market capitalization of $9.94 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. Texas Roadhouse has a one year low of $91.06 and a one year high of $157.12.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts expect that Texas Roadhouse will post 5.73 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.64%. This is a boost 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 is presently 53.86%.

Insider Buying and Selling at Texas Roadhouse

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Red Spruce Capital LLC boosted its position in Texas Roadhouse by 0.5% in the 4th quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after buying an additional 110 shares during the period. Avior Wealth Management LLC raised its stake in shares of Texas Roadhouse by 3.2% during the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after acquiring an additional 111 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Texas Roadhouse by 3.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,121 shares of the restaurant operator’s stock valued at $375,000 after purchasing an additional 124 shares during the period. First Republic Investment Management Inc. grew its stake in Texas Roadhouse by 0.8% in the first quarter. First Republic Investment Management Inc. now owns 16,561 shares of the restaurant operator’s stock worth $1,790,000 after purchasing an additional 124 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

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.