Chuy’s (NASDAQ:CHUY) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Chuy’s (NASDAQ:CHUY) from a hold rating to a buy rating in a research report report published on Friday.

A number of other research firms also recently issued reports on CHUY. Piper Sandler reduced their price target on shares of Chuy’s from $39.00 to $35.00 and set a neutral rating on the stock in a research note on Friday, February 23rd. Wedbush decreased their price target on Chuy’s from $41.00 to $38.00 and set an outperform rating on the stock in a research note 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 for the company. 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, the company has an average rating of Moderate Buy and a consensus price target of $39.71.

Chuy’s Price Performance

Shares of NASDAQ CHUY opened at $29.13 on Friday. Chuy’s has a 1 year low of $28.73 and a 1 year high of $43.17. The company has a market capitalization of $501.91 million, a P/E ratio of 16.74 and a beta of 1.68. The company has a 50 day simple moving average of $32.43 and a 200-day simple moving average of $34.06.

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

Institutional Trading of Chuy’s

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Chuy’s by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 321,878 shares of the restaurant operator’s stock valued at $11,452,000 after purchasing an additional 13,033 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 worth $155,000 after buying an additional 1,583 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Chuy’s by 11.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,957 shares of the restaurant operator’s stock worth $141,000 after acquiring an additional 413 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Chuy’s by 44.9% during the 3rd quarter. Congress Wealth Management LLC DE now owns 103,768 shares of the restaurant operator’s stock worth $3,692,000 after acquiring an additional 32,137 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Chuy’s by 14.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 33,609 shares of the restaurant operator’s stock valued at $1,196,000 after acquiring an additional 4,273 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Chuy’s

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.