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

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) had its price target dropped by equities research analysts at Wells Fargo & Company from $175.00 to $170.00 in a research 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 4.92% from the company's previous close.

Several other equities research analysts have also recently commented on TXRH. 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. Guggenheim cut their price objective on Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Morgan Stanley raised Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Truist Financial cut their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, Robert W. Baird set a $180.00 price objective on shares of Texas Roadhouse and gave the stock an "outperform" rating in a research note on Monday, April 7th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Texas Roadhouse has a consensus rating of "Moderate Buy" and an average price target of $192.29.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded up $0.20 on Tuesday, hitting $162.04. The company's stock had a trading volume of 20,421 shares, compared to its average volume of 876,957. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Texas Roadhouse has a 12 month low of $148.73 and a 12 month high of $206.04. The stock's 50-day moving average is $169.82 and its two-hundred day moving average is $180.12.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Equities analysts expect that Texas Roadhouse will post 7.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 2,050 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $170.66, for a total value of $349,853.00. Following the completion of the sale, the chief technology officer now owns 17,162 shares of the company's stock, valued at approximately $2,928,866.92. The trade was a 10.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Regina A. Tobin sold 3,154 shares of the firm's stock in a transaction that occurred 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 transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,535 shares of company stock worth $2,952,507. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Roadhouse

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at $155,239,000. Congress Asset Management Co. lifted its position in shares of Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after buying an additional 460,537 shares during the last quarter. FMR LLC boosted its stake in shares of Texas Roadhouse by 44.8% during the 4th 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. Franklin Resources Inc. increased its holdings in shares of Texas Roadhouse by 76.0% during the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock valued at $157,375,000 after acquiring an additional 385,998 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Roadhouse by 255.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after acquiring an additional 373,812 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Company Profile

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.