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

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

Other equities research analysts have also recently issued research reports about the stock. Wedbush cut their price objective on shares of Chuy’s from $41.00 to $38.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Stephens began coverage on shares of Chuy’s in a report on Friday, April 12th. They set an overweight rating and a $40.00 price target for the company. Finally, 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 report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $39.71.

Chuy’s Stock Up 0.6 %

Shares of NASDAQ:CHUY opened at $29.13 on Friday. Chuy’s has a 12-month low of $28.73 and a 12-month high of $43.17. The company’s 50 day moving average price is $32.43 and its two-hundred day moving average price is $34.06. The firm has a market cap of $501.91 million, a PE ratio of 16.74 and a beta of 1.68.

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

Institutional Investors Weigh In On Chuy’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. MA boosted its position in Chuy’s by 69.7% in the third quarter. Congress Asset Management Co. MA now owns 657,436 shares of the restaurant operator’s stock valued at $23,392,000 after buying an additional 269,979 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Chuy’s by 19.6% in the 1st quarter. Wasatch Advisors LP now owns 313,649 shares of the restaurant operator’s stock valued at $10,579,000 after acquiring an additional 51,352 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Chuy’s by 20.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 251,134 shares of the restaurant operator’s stock valued at $8,935,000 after acquiring an additional 42,063 shares in the last quarter. Eagle Asset Management Inc. grew its position in Chuy’s by 53.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 100,959 shares of the restaurant operator’s stock worth $3,592,000 after acquiring an additional 35,171 shares during the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in Chuy’s by 44.9% in the 3rd quarter. Congress Wealth Management LLC DE now owns 103,768 shares of the restaurant operator’s stock worth $3,692,000 after purchasing an additional 32,137 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

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.