Wells Fargo & Company Lowers Texas Roadhouse (NASDAQ:TXRH) Price Target to $170.00

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $175.00 to $170.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the restaurant operator's stock. Wells Fargo & Company's target price indicates a potential upside of 5.17% from the stock's current price.

Several other equities research analysts have also commented on the stock. Morgan Stanley upgraded shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Stephens dropped their price target on Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Truist Financial cut their price objective on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, Citigroup boosted their price target on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.29.

Texas Roadhouse Stock Down 0.1 %

TXRH stock traded down $0.20 during mid-day trading on Tuesday, reaching $161.64. 857,704 shares of the company traded hands, compared to its average volume of 880,334. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.23 and a beta of 0.88. Texas Roadhouse has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The firm's 50 day moving average price is $169.50 and its 200 day moving average price is $180.05.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. On average, analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 2,700 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $168.26, for a total value of $454,302.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the sale, the director now owns 6,801 shares of the company's stock, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,535 shares of company stock worth $2,952,507 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at about $155,239,000. Congress Asset Management Co. raised its stake in shares of Texas Roadhouse by 8,956.4% during the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after acquiring an additional 460,537 shares in the last quarter. FMR LLC raised its stake in shares of Texas Roadhouse by 44.8% during the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after acquiring an additional 402,465 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Texas Roadhouse by 76.0% in the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock valued at $157,375,000 after purchasing an additional 385,998 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Texas Roadhouse by 255.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after purchasing an additional 373,812 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Company Profile

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.