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

Texas Roadhouse (NASDAQ:TXRH) had its price objective hoisted by Wells Fargo & Company from $140.00 to $165.00 in a report 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 equities research analysts also recently issued reports on TXRH. Citigroup increased their target price on shares of Texas Roadhouse from $162.00 to $178.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Robert W. Baird lifted their price objective on Texas Roadhouse from $178.00 to $182.00 and gave the company an outperform rating in a research report on Friday. Barclays upped their target price on Texas Roadhouse from $138.00 to $160.00 and gave the stock an equal weight rating in a research report on Friday. BTIG Research boosted their price target on Texas Roadhouse from $155.00 to $175.00 and gave the company a buy rating in a research note on Friday. Finally, BMO Capital Markets increased their price objective on Texas Roadhouse from $130.00 to $145.00 and gave the stock a market perform rating in a report on Friday. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $152.59.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $163.61 on Friday. Texas Roadhouse has a 1 year low of $91.06 and a 1 year high of $170.39. The stock has a fifty day moving average price of $152.50 and a two-hundred day moving average price of $130.02. The firm has a market cap of $10.93 billion, a P/E ratio of 33.12, a PEG ratio of 1.73 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. On average, research analysts predict that Texas Roadhouse will post 5.9 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

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

Insiders Place Their Bets

In other news, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the transaction, the insider now directly owns 8,500 shares in the company, valued at $1,266,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of the company’s 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 transaction, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock valued at $1,843,145 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of TXRH. Rise Advisors LLC bought a new stake in shares of Texas Roadhouse during the 1st quarter valued at $32,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Texas Roadhouse by 454.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the period. Operose Advisors LLC bought a new stake in Texas Roadhouse in the third quarter valued at about $28,000. Fifth Third Bancorp lifted 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 buying an additional 125 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in Texas Roadhouse during the first quarter worth about $76,000. 94.82% of the stock is owned by institutional investors.

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.