Zacks Investment Research upgraded shares of Chuy's (NASDAQ:CHUY) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Chuy’s Holdings, Inc. owns and operates full-service restaurants serving a distinct menu of authentic Mexican food. The Company offers menu which includes appetizers, soups and salads, tacos, burritos, enchiladas, fajitas and combination platters. It operates chains throughout Texas, Alabama, Indiana, Kentucky, and Tennessee. Chuy’s Holdings, Inc. is headquartered in Austin, Texas. “

CHUY has been the topic of a number of other reports. Robert W. Baird reiterated a hold rating and set a $24.00 price objective on shares of Chuy's in a research note on Monday, October 9th. BidaskClub downgraded shares of Chuy's from a buy rating to a hold rating in a research note on Thursday, December 7th. Stifel Nicolaus began coverage on shares of Chuy's in a research note on Monday, October 2nd. They set a hold rating and a $23.00 price objective on the stock. TheStreet upgraded shares of Chuy's from a c+ rating to a b- rating in a research note on Friday, December 15th. Finally, BMO Capital Markets reiterated a hold rating on shares of Chuy's in a research note on Monday, November 6th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $26.00.

Chuy's (NASDAQ:CHUY) opened at $28.75 on Thursday. The company has a market cap of $486.28, a P/E ratio of 31.59, a PEG ratio of 1.64 and a beta of 0.02. Chuy's has a 1 year low of $18.00 and a 1 year high of $32.55.

Chuy's (NASDAQ:CHUY) last issued its earnings results on Thursday, November 2nd. The restaurant operator reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). The company had revenue of $92.19 million for the quarter, compared to analysts’ expectations of $92.90 million. Chuy's had a return on equity of 9.98% and a net margin of 4.37%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. analysts predict that Chuy's will post 0.97 EPS for the current fiscal year.

Chuy's declared that its board has initiated a share buyback plan on Thursday, November 2nd that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHUY. Schwab Charles Investment Management Inc. boosted its stake in Chuy's by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 79,748 shares of the restaurant operator’s stock valued at $1,867,000 after acquiring an additional 821 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Chuy's by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 238,559 shares of the restaurant operator’s stock valued at $5,582,000 after acquiring an additional 1,294 shares in the last quarter. Legal & General Group Plc boosted its stake in Chuy's by 9.3% in the second quarter. Legal & General Group Plc now owns 31,252 shares of the restaurant operator’s stock valued at $732,000 after acquiring an additional 2,672 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Chuy's by 58.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,941 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Chuy's in the second quarter valued at approximately $642,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.

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Chuy's Company Profile

Chuy’s Holdings, Inc operates Chuy’s, a restaurant concept offering a distinct menu of authentic, freshly prepared Mexican and Tex-Mex inspired food. As of December 25, 2016, the Company operated 80 Chuy’s restaurants across 16 states. The Company offers the same menu during lunch and dinner, which includes enchiladas, fajitas, tacos, burritos, combination platters and daily specials, complemented by a range of appetizers, soups and salads.

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