Morgan Stanley Lowers Texas Roadhouse (NASDAQ:TXRH) Price Target to $205.00

Texas Roadhouse (NASDAQ:TXRH) had its target price dropped by equities researchers at Morgan Stanley from $210.00 to $205.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price target would indicate a potential upside of 27.08% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TXRH. Royal Bank Of Canada lowered their price target on Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday. The Goldman Sachs Group cut their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Evercore ISI cut Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price target for the company. in a research note on Thursday, September 4th. Wells Fargo & Company cut their target price on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Citigroup raised their price target on Texas Roadhouse from $180.00 to $197.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.95.

Texas Roadhouse Stock Performance

Shares of TXRH traded down $3.72 during mid-day trading on Monday, reaching $161.31. 583,220 shares of the company’s stock traded hands, compared to its average volume of 1,126,554. The stock has a market capitalization of $10.72 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Texas Roadhouse has a 12 month low of $148.73 and a 12 month high of $206.04. The business’s 50-day moving average price is $167.61 and its 200-day moving average price is $178.06.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Texas Roadhouse’s revenue was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares of the company’s stock, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the sale, the chief technology officer directly owned 17,553 shares in the company, valued at $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,342 shares of company stock valued at $1,443,704 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its position in shares of Texas Roadhouse by 2.2% during the third quarter. Citigroup Inc. now owns 25,044 shares of the restaurant operator’s stock worth $4,161,000 after purchasing an additional 549 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of Texas Roadhouse by 44.1% in the third quarter. Ontario Teachers Pension Plan Board now owns 28,334 shares of the restaurant operator’s stock worth $4,708,000 after buying an additional 8,667 shares in the last quarter. Harold Davidson & Associates Inc. lifted its holdings in shares of Texas Roadhouse by 22.3% during the 3rd quarter. Harold Davidson & Associates Inc. now owns 5,460 shares of the restaurant operator’s stock worth $907,000 after acquiring an additional 994 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Texas Roadhouse by 21.5% during the 3rd quarter. Synovus Financial Corp now owns 9,230 shares of the restaurant operator’s stock valued at $1,534,000 after purchasing an additional 1,634 shares during the last quarter. Finally, Hodges Capital Management Inc. grew its stake in shares of Texas Roadhouse by 0.7% in the third quarter. Hodges Capital Management Inc. now owns 18,674 shares of the restaurant operator’s stock worth $3,103,000 after purchasing an additional 135 shares during the last quarter. 94.82% of the stock is 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.