Texas Roadhouse (NASDAQ:TXRH) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Texas Roadhouse (NASDAQ:TXRH) from an equal weight rating to an overweight rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $213.00 price objective on the restaurant operator’s stock, up from their prior price objective of $205.00.

TXRH has been the topic of several other reports. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a research report on Wednesday, January 8th. Stifel Nicolaus upped their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Guggenheim raised their price target on Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $200.00 price objective on shares of Texas Roadhouse in a research note on Thursday, December 19th. Finally, Evercore ISI raised their target price on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.26.

Texas Roadhouse Price Performance

TXRH stock opened at $179.13 on Tuesday. Texas Roadhouse has a fifty-two week low of $121.79 and a fifty-two week high of $206.04. The business has a 50-day moving average of $188.06 and a 200-day moving average of $179.09. The stock has a market capitalization of $11.95 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.37 and a beta of 1.01.

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

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is 41.92%.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,480 shares of company stock worth $668,603 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

A number of institutional investors have recently modified their holdings of TXRH. Kingsview Wealth Management LLC raised its stake in Texas Roadhouse by 3.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares in the last quarter. Lifestyle Asset Management Inc. raised its position in shares of Texas Roadhouse by 3.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after acquiring an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after acquiring an additional 65 shares during the last quarter. Finally, Insight Wealth Partners LLC raised its position in Texas Roadhouse by 3.9% during the third quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock valued at $321,000 after purchasing an additional 68 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

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.