Texas Roadhouse (NASDAQ:TXRH) Stock Rating Upgraded by Morgan Stanley

Texas Roadhouse (NASDAQ:TXRH) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Tuesday,Benzinga reports. The brokerage presently has a $213.00 price objective on the restaurant operator’s stock, up from their previous price objective of $205.00. Morgan Stanley’s price target suggests a potential upside of 19.03% from the stock’s previous close.

Several other research analysts have also commented on the company. Truist Financial lifted their price target on Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America lifted their target price on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price target on the stock. Gordon Haskett lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus increased their target price on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $191.26.

Texas Roadhouse Trading Up 0.4 %

Shares of TXRH stock opened at $178.95 on Tuesday. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Texas Roadhouse has a 12-month low of $117.98 and a 12-month high of $206.04. The stock’s 50-day moving average price is $188.75 and its 200-day moving average price is $179.00.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. As a group, research analysts predict that Texas Roadhouse will post 6.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now owns 16,342 shares in the company, valued at $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps sold 610 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the sale, the director now directly owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,480 shares of company stock valued at $668,603 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its stake in Texas Roadhouse by 134.0% during the 2nd quarter. Hsbc Holdings PLC now owns 4,037 shares of the restaurant operator’s stock worth $693,000 after buying an additional 2,312 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Texas Roadhouse during the second quarter worth about $618,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Texas Roadhouse by 12.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock valued at $128,000 after acquiring an additional 85 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $52,000. Finally, Pacer Advisors Inc. boosted its stake in Texas Roadhouse by 2.0% in the 2nd quarter. Pacer Advisors Inc. now owns 14,834 shares of the restaurant operator’s stock worth $2,547,000 after purchasing an additional 284 shares in the last quarter. 94.82% of the stock is 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.