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

Texas Roadhouse (NASDAQ:TXRH) had its target price lowered by equities research analysts at Wells Fargo & Company from $175.00 to $170.00 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 target suggests a potential upside of 4.17% from the stock’s previous close.

Several other research firms have also commented on TXRH. The Goldman Sachs Group cut their price objective on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Morgan Stanley reissued an “overweight” rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Evercore ISI lowered shares of Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price objective on the stock. in a research note on Thursday, September 4th. Finally, Barclays decreased their target price on shares of Texas Roadhouse from $187.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $193.47.

Texas Roadhouse Price Performance

TXRH stock traded up $2.46 during midday trading on Friday, reaching $163.19. 1,195,052 shares of the company’s stock traded hands, compared to its average volume of 1,122,620. Texas Roadhouse has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The business has a 50-day moving average price of $167.76 and a two-hundred day moving average price of $177.82. The company has a market capitalization of $10.84 billion, a P/E ratio of 24.91, a PEG ratio of 2.50 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.Texas Roadhouse’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. As a group, research analysts forecast that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director owned 34,550 shares of the company’s stock, valued at $5,979,223. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the sale, the president owned 15,261 shares of the company’s stock, valued at $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,342 shares of company stock worth $1,443,704 in the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in shares of Texas Roadhouse by 528.2% during the 2nd quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock valued at $594,603,000 after buying an additional 2,667,716 shares during the last quarter. Axiom Investors LLC DE grew its holdings in shares of Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock worth $268,209,000 after purchasing an additional 1,089,256 shares during the period. AQR Capital Management LLC raised its position in shares of Texas Roadhouse by 85.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock worth $439,102,000 after purchasing an additional 1,081,413 shares during the period. Finally, Norges Bank bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth approximately $159,007,000. 94.82% of the stock is owned by institutional investors and hedge funds.

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.