Wells Fargo & Company Boosts Texas Roadhouse (NASDAQ:TXRH) Price Target to $175.00

Texas Roadhouse (NASDAQ:TXRH) had its price objective hoisted by Wells Fargo & Company from $165.00 to $175.00 in a research note released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the restaurant operator’s stock.

Several other brokerages have also recently issued reports on TXRH. BMO Capital Markets lifted their price objective on Texas Roadhouse from $130.00 to $145.00 and gave the stock a market perform rating in a report on Friday, May 3rd. Truist Financial raised their price target on Texas Roadhouse from $183.00 to $185.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Citigroup raised their price target on Texas Roadhouse from $178.00 to $183.00 and gave the stock a buy rating in a research report on Friday, May 3rd. BTIG Research raised their price target on Texas Roadhouse from $155.00 to $175.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Stephens raised their price target on Texas Roadhouse from $150.00 to $164.00 and gave the stock an equal weight rating in a research report on Friday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of Hold and an average target price of $168.23.

Texas Roadhouse Price Performance

TXRH opened at $169.38 on Friday. The business has a 50 day simple moving average of $169.75 and a 200-day simple moving average of $154.04. The stock has a market capitalization of $11.31 billion, a P/E ratio of 34.29, a P/E/G ratio of 1.59 and a beta of 1.01. Texas Roadhouse has a 12 month low of $91.06 and a 12 month high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Texas Roadhouse had a return on equity of 31.68% and a net margin of 7.47%. Texas Roadhouse’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts anticipate that Texas Roadhouse will post 6.07 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Insider Activity

In other news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at $2,051,525.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,025 shares of company stock valued at $3,251,266. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Roadhouse in the 2nd quarter worth approximately $25,000. LRI Investments LLC bought a new position in Texas Roadhouse in the 1st quarter worth approximately $25,000. McClarren Financial Advisors Inc. lifted its position in Texas Roadhouse by 4,175.0% in the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 167 shares during the period. Rise Advisors LLC acquired a new stake in Texas Roadhouse in the first quarter worth approximately $32,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Texas Roadhouse by 454.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the period. 94.82% of the stock is owned by 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.