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

Texas Roadhouse (NASDAQ:TXRH) had its price target decreased by Wells Fargo & Company from $175.00 to $170.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the restaurant operator’s stock.

A number of other research firms have also weighed in on TXRH. Evercore ISI lowered shares of Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price target on the stock. in a research report on Thursday, September 4th. Morgan Stanley reissued an “overweight” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research note on Tuesday, October 21st. Bank of America boosted their target price on Texas Roadhouse from $203.00 to $219.00 and gave the stock a “buy” rating in a report on Friday, July 18th. The Goldman Sachs Group cut their price target on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Finally, Melius Research upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.21.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $165.03 on Friday. The stock has a market capitalization of $10.97 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.50 and a beta of 0.87. The company’s fifty day moving average price is $167.61 and its 200 day moving average price is $178.06. Texas Roadhouse has a 1 year low of $148.73 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $1.26 EPS. Texas Roadhouse’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, December 2nd. Texas Roadhouse’s payout ratio is 41.59%.

Insider Activity at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the transaction, the director owned 34,550 shares in the company, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,342 shares of company stock valued at $1,443,704 over the last quarter. 0.50% of the stock is owned by insiders.

Institutional Trading of Texas Roadhouse

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in shares of Texas Roadhouse by 22.8% in the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 58 shares during the period. Advisory Alpha LLC raised its stake in shares of Texas Roadhouse by 3.0% in the first quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock valued at $344,000 after purchasing an additional 60 shares in the last quarter. Dakota Wealth Management lifted its position in Texas Roadhouse by 3.8% in the second quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator’s stock worth $314,000 after purchasing an additional 61 shares during the period. Valeo Financial Advisors LLC boosted its stake in Texas Roadhouse by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator’s stock worth $458,000 after buying an additional 62 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Texas Roadhouse by 14.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 74 shares in the last quarter. 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.