Wells Fargo & Company Has Lowered Expectations for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective dropped by research analysts at Wells Fargo & Company from $175.00 to $170.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 3.99% from the company’s previous close.

Several other brokerages have also recently commented on TXRH. Guggenheim reduced their target price on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their price objective on Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Stephens dropped their target price on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Barclays reduced their price target on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.29.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $163.48 on Tuesday. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.23 and a beta of 0.88. The business has a 50 day simple moving average of $170.01 and a 200 day simple moving average of $180.22. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Insider Activity at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 2,050 shares of Texas Roadhouse stock in a transaction on Monday, February 24th. The shares were sold at an average price of $170.66, for a total transaction of $349,853.00. Following the completion of the transaction, the chief technology officer now owns 17,162 shares of the company’s stock, valued at $2,928,866.92. This trade represents a 10.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the sale, the president now directly owns 18,414 shares in the company, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,535 shares of company stock valued at $2,952,507 over the last three months. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds have recently added to or reduced their stakes in TXRH. Vanguard Group Inc. grew its position in shares of Texas Roadhouse by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator’s stock worth $1,180,123,000 after buying an additional 76,051 shares during the period. Invesco Ltd. boosted its holdings in Texas Roadhouse by 5.9% in the fourth quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator’s stock worth $447,344,000 after acquiring an additional 138,675 shares in the last quarter. FMR LLC boosted its holdings in Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock worth $234,737,000 after acquiring an additional 402,465 shares in the last quarter. Geode Capital Management LLC grew its stake in Texas Roadhouse by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator’s stock valued at $217,959,000 after acquiring an additional 6,004 shares during the period. Finally, Barclays PLC increased its holdings in shares of Texas Roadhouse by 14.4% during the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock valued at $208,539,000 after acquiring an additional 148,462 shares in the last quarter. 94.82% of the stock is currently 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.