Chuy’s (NASDAQ:CHUY) Shares Gap Up to $31.34

Chuy’s Holdings, Inc. (NASDAQ:CHUY) gapped up prior to trading on Friday . The stock had previously closed at $31.34, but opened at $33.63. Chuy’s shares last traded at $33.60, with a volume of 3,168 shares traded.

Several research firms have recently commented on CHUY. Jefferies Financial Group raised Chuy’s from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $41.00 in a research note on Friday. Stephens decreased their price objective on Chuy’s from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 9th. Wedbush decreased their price objective on Chuy’s from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded Chuy’s from a “buy” rating to a “hold” rating in a research note on Tuesday, August 3rd. Finally, TheStreet downgraded Chuy’s from a “b-” rating to a “c+” rating in a research note on Wednesday, July 14th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.63.

The firm has a 50 day moving average of $31.97 and a 200-day moving average of $38.31. The company has a market cap of $664.30 million, a P/E ratio of 29.40 and a beta of 2.17.

Chuy’s (NASDAQ:CHUY) last issued its earnings results on Thursday, August 5th. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $108.15 million for the quarter, compared to the consensus estimate of $102.28 million. Chuy’s had a return on equity of 12.49% and a net margin of 6.39%. Equities research analysts expect that Chuy’s Holdings, Inc. will post 1.75 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHUY. Arizona State Retirement System purchased a new position in Chuy’s during the 2nd quarter valued at approximately $200,000. Virtu Financial LLC purchased a new position in Chuy’s during the 2nd quarter valued at approximately $200,000. Cornerstone Investment Partners LLC purchased a new position in Chuy’s during the 2nd quarter valued at approximately $204,000. Metropolitan Life Insurance Co NY grew its holdings in Chuy’s by 100,100.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,012 shares of the restaurant operator’s stock valued at $224,000 after buying an additional 6,006 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in Chuy’s during the 2nd quarter valued at approximately $225,000. Institutional investors and hedge funds own 99.26% of the company’s stock.

Chuy’s Company Profile (NASDAQ:CHUY)

Chuy’s Holdings, Inc engages in the ownership and operation of full-service restaurants serving a distinct menu of authentic Mexican and Tex-Mex inspired food. Its menu includes enchiladas, fajitas, rellenos, tacos, burritos, combination platters and daily specials, complemented by a variety of appetizers, soups, and salads.

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