Texas Roadhouse (TXRH) Rating Reiterated by Morgan Stanley
Texas Roadhouse (NASDAQ:TXRH)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $55.00 price objective on the restaurant operator’s stock, down from their prior price objective of $57.00. Morgan Stanley’s price target would suggest a potential downside of 2.52% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on TXRH. Maxim Group raised their target price on shares of Texas Roadhouse from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. BMO Capital Markets lowered their target price on shares of Texas Roadhouse from $58.00 to $57.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 31st. Oppenheimer reaffirmed a “hold” rating on shares of Texas Roadhouse in a research note on Tuesday, October 31st. Telsey Advisory Group raised their target price on shares of Texas Roadhouse from $54.00 to $58.00 and gave the company a “market perform” rating in a research note on Thursday, December 21st. Finally, BidaskClub raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $58.05.
Shares of Texas Roadhouse (NASDAQ:TXRH) opened at $56.42 on Wednesday. The firm has a market cap of $4,020.00, a P/E ratio of 32.24, a P/E/G ratio of 1.94 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.63. Texas Roadhouse has a one year low of $40.28 and a one year high of $60.43.
In related news, CEO Wayne Kent Taylor sold 200,000 shares of Texas Roadhouse stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $51.09, for a total value of $10,218,000.00. Following the transaction, the chief executive officer now directly owns 3,908,231 shares of the company’s stock, valued at $199,671,521.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Matthew Colosi sold 10,644 shares of Texas Roadhouse stock in a transaction on Friday, February 16th. The stock was sold at an average price of $58.55, for a total transaction of $623,206.20. The disclosure for this sale can be found here. Insiders have sold 246,818 shares of company stock worth $12,884,345 over the last three months. Insiders own 7.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in shares of Texas Roadhouse by 22.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,537 shares of the restaurant operator’s stock worth $818,000 after buying an additional 2,807 shares during the period. We Are One Seven LLC purchased a new position in shares of Texas Roadhouse in the fourth quarter worth $377,000. MetLife Investment Advisors LLC purchased a new position in shares of Texas Roadhouse in the fourth quarter worth $3,815,000. Castleark Management LLC purchased a new position in shares of Texas Roadhouse in the fourth quarter worth $5,578,000. Finally, Vident Investment Advisory LLC increased its stake in shares of Texas Roadhouse by 78.8% in the fourth quarter. Vident Investment Advisory LLC now owns 9,460 shares of the restaurant operator’s stock worth $498,000 after buying an additional 4,170 shares during the period. 87.08% of the stock is currently owned by institutional investors.
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Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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