Texas Roadhouse (NASDAQ:TXRH) Given New $155.00 Price Target at Morgan Stanley

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

A number of other research firms have also recently commented on TXRH. JPMorgan Chase & Co. boosted their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Piper Sandler lifted their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a neutral rating in a report on Tuesday, February 20th. Citigroup increased their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a buy rating in a report on Wednesday, April 24th. Truist Financial lifted their target price on Texas Roadhouse from $170.00 to $181.00 and gave the stock a buy rating in a report on Friday. Finally, BMO Capital Markets increased their price target on Texas Roadhouse from $110.00 to $130.00 and gave the company a market perform rating in a research note on Friday, February 16th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $151.30.

Texas Roadhouse Trading Up 3.6 %

NASDAQ TXRH traded up $5.71 on Friday, reaching $163.61. 1,640,850 shares of the stock were exchanged, compared to its average volume of 835,599. The firm has a market capitalization of $10.93 billion, a PE ratio of 33.12, a PEG ratio of 1.71 and a beta of 1.00. Texas Roadhouse has a one year low of $91.06 and a one year high of $170.39. The company’s 50-day simple moving average is $152.50 and its two-hundred day simple moving average is $129.54.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. Texas Roadhouse’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Sell-side analysts forecast that Texas Roadhouse will post 5.77 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.49%. 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 dividend payout ratio (DPR) is currently 49.39%.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 completion of the transaction, the insider now owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,382 shares of company stock worth $1,843,145. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Texas Roadhouse in the fourth quarter valued at $78,544,000. Balyasny Asset Management L.P. lifted its holdings in Texas Roadhouse by 4,150.1% in 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 acquiring an additional 441,069 shares during the period. Invesco Ltd. grew its stake in shares of Texas Roadhouse by 40.7% during the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after purchasing an additional 370,627 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Texas Roadhouse by 60.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after purchasing an additional 294,425 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Texas Roadhouse in the 4th quarter valued at $28,724,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

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.