Texas Roadhouse (NASDAQ:TXRH) Upgraded by Morgan Stanley to "Overweight" Rating

Morgan Stanley upgraded shares of Texas Roadhouse (NASDAQ:TXRH - Free Report) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $213.00 target price on the restaurant operator's stock, up from their prior target price of $205.00.

Other equities research analysts have also recently issued research reports about the company. Bank of America increased their price target on Texas Roadhouse from $206.00 to $234.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a "market perform" rating in a research note on Friday, October 25th. Citigroup increased their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Barclays lifted their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on Texas Roadhouse from $190.00 to $205.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse currently has an average rating of "Hold" and an average target price of $191.26.

Texas Roadhouse Price Performance

TXRH stock traded up $3.09 during mid-day trading on Tuesday, reaching $182.04. 1,253,871 shares of the company's stock were exchanged, compared to its average volume of 872,785. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Texas Roadhouse has a 12-month low of $119.52 and a 12-month high of $206.04. The stock's 50 day moving average is $188.75 and its 200 day moving average is $179.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.06). The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. On average, research analysts forecast that Texas Roadhouse will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.44 annualized dividend and a dividend yield of 1.34%. Texas Roadhouse's dividend payout ratio is currently 41.92%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now owns 3,532 shares in the company, valued at approximately $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the transaction, the insider now owns 10,000 shares of the company's stock, valued at $1,794,600. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,480 shares of company stock worth $668,603 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several institutional investors and hedge funds have recently made changes to their positions in the business. True Wealth Design LLC acquired a new position in Texas Roadhouse in the 3rd quarter valued at about $30,000. PSI Advisors LLC grew its holdings in shares of Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator's stock worth $32,000 after buying an additional 75 shares in the last quarter. UMB Bank n.a. raised its position in shares of Texas Roadhouse by 118.6% in the third quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator's stock valued at $46,000 after buying an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock valued at $48,000 after buying an additional 65 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Texas Roadhouse during the second quarter worth approximately $52,000. 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.