Texas Roadhouse (NASDAQ:TXRH) Price Target Increased to $175.00 by Analysts at Wells Fargo & Company

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.

A number of other research analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an equal weight rating in a report on Friday, May 3rd. 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 report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Texas Roadhouse from $145.00 to $184.00 and gave the company a neutral rating in a report on Tuesday, May 28th. Truist Financial lifted their price objective on shares of Texas Roadhouse from $183.00 to $185.00 and gave the company a buy rating in a report on Tuesday, July 9th. Finally, Evercore ISI raised their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $169.86.

Texas Roadhouse Trading Up 1.8 %

NASDAQ:TXRH opened at $172.44 on Friday. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 1.58 and a beta of 1.01. The firm has a fifty day simple moving average of $169.83 and a two-hundred day simple moving average of $154.90. 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, beating analysts’ consensus estimates of $1.64 by $0.15. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Equities analysts predict that Texas Roadhouse will post 6.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were paid a dividend of $0.61 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.44 annualized dividend and a yield of 1.41%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 15,000 shares of the business’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 transaction 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 $13,366,329.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Gerald L. Morgan sold 15,000 shares of the business’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 transaction 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 $13,366,329.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Curtis Warfield sold 1,025 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total transaction of $169,965.50. Following the completion of the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,025 shares of company stock valued at $3,251,266. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC grew its stake in Texas Roadhouse by 3.2% in the 4th quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock worth $437,000 after buying an additional 111 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Texas Roadhouse by 4.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock worth $414,000 after buying an additional 122 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Roadhouse in the 2nd quarter worth approximately $25,000. Bridge City Capital LLC grew its stake in Texas Roadhouse by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 19,245 shares of the restaurant operator’s stock worth $2,973,000 after buying an additional 150 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter worth approximately $25,000. Hedge funds and other 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.