Texas Roadhouse (NASDAQ:TXRH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Texas Roadhouse (NASDAQ:TXRH) had its price objective raised by equities researchers at Morgan Stanley from $200.00 to $205.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective indicates a potential upside of 11.01% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TXRH. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the company an “outperform” rating in a research report on Monday, April 7th. Stifel Nicolaus lowered their price target on shares of Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Barclays cut their price objective on shares of Texas Roadhouse from $179.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Citigroup cut shares of Texas Roadhouse from a “buy” rating to a “neutral” rating and decreased their target price for the company from $213.00 to $164.00 in a research report on Wednesday, April 23rd. Finally, Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.09.

Texas Roadhouse Stock Down 2.0%

Shares of NASDAQ:TXRH opened at $184.66 on Monday. The business’s 50 day moving average is $189.42 and its 200 day moving average is $178.77. The stock has a market cap of $12.25 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. Texas Roadhouse’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. On average, sell-side analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Donna E. Epps sold 800 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the transaction, the director owned 4,632 shares in the company, valued at $863,960.64. This trade represents a 14.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the transaction, the director directly owned 38,050 shares in the company, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Texas Roadhouse by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator’s stock valued at $1,180,123,000 after acquiring an additional 76,051 shares during the last quarter. Invesco Ltd. raised its stake in Texas Roadhouse by 5.9% during the fourth quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator’s stock worth $447,344,000 after purchasing an additional 138,675 shares during the period. Axiom Investors LLC DE boosted its holdings in Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Roadhouse by 209.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock valued at $268,209,000 after buying an additional 1,089,256 shares during the period. Finally, FMR LLC increased its holdings in shares of Texas Roadhouse by 44.8% during the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock worth $234,737,000 after buying an additional 402,465 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other 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.