Messages

If you are using iCloud Messages, no. If not, then the only way is to restore the iPhone to a backup made when the message was still on the phone. No backup, no recovery. Just remember when you restore to a backup, it takes the iPhone back to that date/time, and anything done since then is lost.

ICloud backups will overwrite themselves, correct. So, if you have made a backup of the device since the text was deleted, your current backup will not contain the deleted text.