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

Texas Roadhouse (NASDAQ:TXRH) had its price objective upped by analysts at Wells Fargo & Company from $165.00 to $175.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.41% from the stock’s previous close.

A number of other analysts have also issued reports on TXRH. Bank of America boosted their price objective on Texas Roadhouse from $189.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on Texas Roadhouse from $145.00 to $184.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Stephens upped their target price on Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial upped their target price on Texas Roadhouse from $183.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada upped their target price on Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a research note on Friday, June 7th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.68.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $166.02 on Friday. Texas Roadhouse has a one year low of $91.06 and a one year high of $175.72. The stock has a market capitalization of $11.09 billion, a PE ratio of 33.61, a P/E/G ratio of 1.59 and a beta of 1.01. The business’s fifty day moving average price is $169.75 and its 200-day moving average price is $153.70.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.13. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Texas Roadhouse will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Hernan E. Mujica sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $168.60, for a total transaction of $505,800.00. Following the completion of the transaction, the chief technology officer now owns 17,842 shares of the company’s stock, valued at approximately $3,008,161.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,025 shares of company stock worth $3,251,266. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Roadhouse during the second quarter valued at $25,000. Rise Advisors LLC purchased a new position in Texas Roadhouse during the first quarter valued at $32,000. China Universal Asset Management Co. Ltd. lifted its position in Texas Roadhouse by 454.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its position in Texas Roadhouse by 100.0% during the fourth quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 290 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

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.