Wells Fargo & Company Increases Texas Roadhouse (NASDAQ:TXRH) Price Target to $165.00

Texas Roadhouse (NASDAQ:TXRH) had its target price lifted by equities researchers at Wells Fargo & Company from $140.00 to $165.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.85% from the company’s current price.

Several other equities analysts have also commented on TXRH. Jefferies Financial Group increased their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday. Northcoast Research downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. UBS Group upped their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Stephens lifted their price objective on shares of Texas Roadhouse from $150.00 to $164.00 and gave the company an “equal weight” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $151.30.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $163.61 on Friday. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. The stock’s 50-day moving average is $152.50 and its two-hundred day moving average is $129.78. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that Texas Roadhouse will post 5.9 earnings per share for the current fiscal year.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Roadhouse news, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the sale, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 405 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the sale, the insider now owns 8,500 shares in the company, valued at approximately $1,266,925. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXRH. Commonwealth Equity Services LLC lifted its stake in shares of Texas Roadhouse by 3.2% during the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock valued at $630,000 after buying an additional 203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Texas Roadhouse by 15.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock worth $1,404,000 after purchasing an additional 1,977 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of Texas Roadhouse during the third quarter worth $213,000. Park Avenue Securities LLC purchased a new stake in shares of Texas Roadhouse in the third quarter valued at $474,000. Finally, Inspire Investing LLC increased its stake in Texas Roadhouse by 12.8% in the third quarter. Inspire Investing LLC now owns 13,018 shares of the restaurant operator’s stock valued at $1,251,000 after purchasing an additional 1,477 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.