Chuy’s (NASDAQ:CHUY) Rating Lowered to Equal Weight at Stephens

Stephens cut shares of Chuy’s (NASDAQ:CHUY) from an overweight rating to an equal weight rating in a report issued on Wednesday, September 12th, Marketbeat.com reports. The brokerage currently has $32.00 target price on the restaurant operator’s stock, down from their prior target price of $34.00.

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Chuy’s from a hold rating to a buy rating in a research report on Thursday, June 21st. BidaskClub cut shares of Chuy’s from a strong-buy rating to a buy rating in a research report on Wednesday, July 11th. Zacks Investment Research upgraded shares of Chuy’s from a hold rating to a buy rating and set a $35.00 price objective for the company in a research report on Monday, August 6th. Raymond James restated a buy rating on shares of Chuy’s in a research report on Monday, August 13th. Finally, Jefferies Financial Group restated a hold rating and set a $30.00 price objective on shares of Chuy’s in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $28.50.

NASDAQ CHUY traded up $0.21 during mid-day trading on Wednesday, reaching $26.00. 73,299 shares of the stock were exchanged, compared to its average volume of 139,407. Chuy’s has a 1 year low of $19.85 and a 1 year high of $34.10. The company has a market capitalization of $444.84 million, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.37 and a beta of -0.24.

Chuy’s (NASDAQ:CHUY) last announced its quarterly earnings results on Thursday, August 9th. The restaurant operator reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Chuy’s had a net margin of 7.39% and a return on equity of 8.32%. The firm had revenue of $106.30 million for the quarter, compared to the consensus estimate of $106.05 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts predict that Chuy’s will post 1.1 earnings per share for the current fiscal year.

In other news, Director Ira L. Zecher sold 1,500 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $27.53, for a total value of $41,295.00. Following the completion of the sale, the director now directly owns 3,774 shares in the company, valued at $103,898.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of Chuy’s by 1.1% in the second quarter. Northern Trust Corp now owns 234,891 shares of the restaurant operator’s stock valued at $7,212,000 after buying an additional 2,505 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Chuy’s by 5.1% in the second quarter. Public Employees Retirement System of Ohio now owns 84,505 shares of the restaurant operator’s stock valued at $2,594,000 after buying an additional 4,081 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Chuy’s by 6.8% in the second quarter. Macquarie Group Ltd. now owns 953,055 shares of the restaurant operator’s stock valued at $29,259,000 after buying an additional 60,693 shares during the last quarter. Bank of America Corp DE raised its position in shares of Chuy’s by 52.3% in the second quarter. Bank of America Corp DE now owns 93,324 shares of the restaurant operator’s stock valued at $2,866,000 after buying an additional 32,049 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Chuy’s by 6.1% in the second quarter. Renaissance Technologies LLC now owns 439,700 shares of the restaurant operator’s stock valued at $13,499,000 after buying an additional 25,300 shares during the last quarter.

About Chuy’s

Chuy's Holdings, Inc, through its subsidiaries, owns and operates restaurants under the Chuy's name in Texas and 19 states in the Southeastern and Midwestern United States. As of December 31, 2017, the company operated 91 Chuy's restaurants in 19 states. Chuy's Holdings, Inc was founded in 1982 and is headquartered in Austin, Texas.

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Analyst Recommendations for Chuy`s (NASDAQ:CHUY)

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