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

Texas Roadhouse (NASDAQ:TXRH) had its price objective raised by Wells Fargo & Company from $140.00 to $165.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

Several other brokerages have also recently weighed in on TXRH. JPMorgan Chase & Co. boosted their target price on Texas Roadhouse from $142.00 to $145.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. BTIG Research boosted their price objective on Texas Roadhouse from $155.00 to $175.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird raised their target price on Texas Roadhouse from $178.00 to $182.00 and gave the stock an outperform rating in a research note on Friday. Benchmark assumed coverage on Texas Roadhouse in a report on Wednesday, April 10th. They set a hold rating on the stock. Finally, Piper Sandler boosted their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a neutral rating in a research report on Tuesday, February 20th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $151.30.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded up $5.71 during trading on Friday, reaching $163.61. The stock had a trading volume of 1,640,850 shares, compared to its average volume of 835,599. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $170.39. The stock has a market cap of $10.93 billion, a PE ratio of 33.12, a PEG ratio of 1.71 and a beta of 1.00. The business has a fifty day moving average price of $152.50 and a 200-day moving average price of $129.54.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 EPS. Sell-side analysts expect that Texas Roadhouse will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.49%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the sale, the president now owns 15,261 shares in the company, valued at $2,290,218.27. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last three months. 0.50% of the stock is owned by company insiders.

Institutional Trading of Texas Roadhouse

A number of large investors have recently made changes to their positions in the company. Red Spruce Capital LLC lifted its position in shares of Texas Roadhouse by 0.5% during the 4th quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock worth $2,733,000 after purchasing an additional 110 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Texas Roadhouse by 3.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after purchasing an additional 111 shares in the last quarter. Fifth Third Bancorp increased its stake in Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares during the last quarter. Prospector Partners LLC increased its stake in Texas Roadhouse by 0.4% in the third quarter. Prospector Partners LLC now owns 34,575 shares of the restaurant operator’s stock valued at $3,323,000 after purchasing an additional 150 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Texas Roadhouse by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 29,360 shares of the restaurant operator’s stock worth $2,821,000 after purchasing an additional 150 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other 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.