Wells Fargo & Company Issues Pessimistic Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price objective lowered by Wells Fargo & Company from $175.00 to $170.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities research analysts also recently weighed in on TXRH. Robert W. Baird set a $180.00 target price on Texas Roadhouse and gave the stock an “outperform” rating in a report on Monday, April 7th. Gordon Haskett lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Citigroup increased their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush lifted their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Finally, Barclays cut their price objective on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.29.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $161.84 on Tuesday. Texas Roadhouse has a 52-week low of $148.73 and a 52-week high of $206.04. The company’s 50 day moving average price is $169.82 and its 200-day moving average price is $180.12. The company has a market capitalization of $10.75 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

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

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.68%. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 580 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $181.94, for a total transaction of $105,525.20. Following the completion of the transaction, the insider now directly owns 12,000 shares of the company’s stock, valued at $2,183,280. This represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total transaction of $602,621.27. Following the completion of the sale, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,535 shares of company stock valued at $2,952,507. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Texas Roadhouse during the fourth quarter worth about $30,000. Coppell Advisory Solutions LLC grew its stake in Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Texas Roadhouse during the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after acquiring an additional 65 shares in the last quarter. Finally, Park Place Capital Corp boosted its holdings in shares of Texas Roadhouse by 459.1% in the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 303 shares during the period. 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.