Texas Roadhouse (NASDAQ:TXRH) Stock Price Target Cut by Wells Fargo & Company

Texas Roadhouse (NASDAQ:TXRH) had its price objective cut by equities research analysts at Wells Fargo & Company from $230.00 to $220.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.71% from the stock’s current price.

TXRH has been the topic of a number of other research reports. Stephens upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 target price on the stock in a research note on Thursday, October 15th. BTIG Research reaffirmed a “buy” rating on shares of Texas Roadhouse in a research note on Friday. Benchmark upgraded Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Royal Bank Of Canada reduced their price target on Texas Roadhouse from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $190.00 price target on shares of Texas Roadhouse in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Texas Roadhouse Trading Down 2.4%

Texas Roadhouse stock opened at $191.79 on Friday. The company’s fifty day simple moving average is $173.05 and its 200-day simple moving average is $179.11. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse has a 12 month low of $153.82 and a 12 month high of $216.30. The stock has a market cap of $12.59 billion, a P/E ratio of 30.69, a P/E/G ratio of 2.13 and a beta of 0.81.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.10). Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company posted $1.25 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Texas Roadhouse will post 6.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Lloyd Marshall sold 500 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the sale, the insider owned 9,826 shares in the company, valued at approximately $2,010,890.90. This represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerald Morgan sold 15,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total value of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 19,970 shares of company stock valued at $4,061,808. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXRH. BlackRock Inc. acquired a new stake in shares of Texas Roadhouse in the second quarter worth $1,273,173,000. Wellington Management Group LLP boosted its holdings in shares of Texas Roadhouse by 8.4% during the 2nd quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after buying an additional 119,803 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Texas Roadhouse by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 864,006 shares of the restaurant operator’s stock worth $142,670,000 after buying an additional 34,385 shares during the period. Bessemer Group Inc. grew its stake in Texas Roadhouse by 38.1% in the 1st quarter. Bessemer Group Inc. now owns 732,411 shares of the restaurant operator’s stock valued at $120,951,000 after buying an additional 202,241 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Texas Roadhouse in the 2nd quarter valued at $113,993,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse News Summary

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Comparable-store sales increased 4.3%, and revenue rose 9.5% year over year to $1.57 billion. The sales growth signals continued demand, although revenue was slightly below the $1.58 billion consensus. Texas Roadhouse: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company declared a quarterly dividend of $0.75 per share, offering a direct return to shareholders. Third-quarter results and dividend announcement
• Neutral Sentiment: Management characterized results as strong despite softer traffic. That may temper the sales-growth signal, as traffic trends remain an area for investors to monitor. Results despite softer traffic
• Negative Sentiment: Quarterly EPS was $1.36, below analysts’ estimates of roughly $1.46–$1.49. Although earnings were up from $1.25 a year earlier, the miss could weigh on the stock. Q3 earnings and revenue estimates

About Texas Roadhouse

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.