Chuy’s’ (CHUY) “Outperform” Rating Reaffirmed at Wedbush

Chuy’s (NASDAQ:CHUY)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $38.00 price objective on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 27.86% from the company’s previous close.

A number of other brokerages have also issued reports on CHUY. StockNews.com upgraded shares of Chuy’s from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Piper Sandler decreased their target price on Chuy’s from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Finally, Stephens began coverage on Chuy’s in a research report on Friday, April 12th. They set an “overweight” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Chuy’s has an average rating of “Moderate Buy” and an average target price of $39.71.

Chuy’s Price Performance

Chuy’s stock opened at $29.72 on Friday. The firm’s fifty day moving average price is $32.09 and its 200 day moving average price is $33.95. The company has a market capitalization of $512.08 million, a price-to-earnings ratio of 17.08 and a beta of 1.68. Chuy’s has a 12-month low of $28.73 and a 12-month high of $43.17.

Chuy’s (NASDAQ:CHUY) last released its quarterly earnings results on Thursday, February 22nd. The restaurant operator reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Chuy’s had a return on equity of 13.96% and a net margin of 6.83%. The business had revenue of $116.30 million for the quarter, compared to analysts’ expectations of $116.63 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that Chuy’s will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHUY. AJOVista LLC bought a new stake in Chuy’s in the fourth quarter valued at $53,000. Allspring Global Investments Holdings LLC lifted its position in Chuy’s by 70.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,658 shares of the restaurant operator’s stock valued at $90,000 after purchasing an additional 1,096 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chuy’s by 57.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,347 shares of the restaurant operator’s stock valued at $155,000 after purchasing an additional 1,583 shares during the period. Quest Partners LLC bought a new position in Chuy’s in the 4th quarter worth about $162,000. Finally, Hsbc Holdings PLC bought a new position in Chuy’s in the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Chuy’s Company Profile

Chuy's Holdings, Inc, through its subsidiaries, owns and operates full-service restaurants under the Chuy's name in the United States. The company was founded in 1982 and is headquartered in Austin, Texas.