Chuy’s (NASDAQ:CHUY) Price Target Cut to $40.00

Chuy’s (NASDAQ:CHUY) had its price target decreased by research analysts at Stephens from $44.00 to $40.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Stephens’ price target suggests a potential upside of 2.07% from the company’s previous close.

Several other research firms also recently issued reports on CHUY. Robert W. Baird restated a “hold” rating on shares of Chuy’s in a report on Sunday, February 21st. BMO Capital Markets downgraded Chuy’s from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $30.00 to $42.00 in a report on Thursday, February 25th. They noted that the move was a valuation call. Telsey Advisory Group lifted their price objective on Chuy’s from $30.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, March 5th. TheStreet upgraded Chuy’s from a “c” rating to a “b-” rating in a report on Thursday, May 6th. Finally, Zacks Investment Research upgraded Chuy’s from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Friday, May 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Chuy’s has an average rating of “Hold” and a consensus target price of $44.29.

Chuy’s stock opened at $39.19 on Wednesday. The business’s 50 day moving average is $43.92. The firm has a market cap of $783.25 million, a price-to-earnings ratio of 47.79 and a beta of 2.19. Chuy’s has a one year low of $12.55 and a one year high of $49.99.

Chuy’s (NASDAQ:CHUY) last released its quarterly earnings results on Thursday, May 6th. The restaurant operator reported $0.42 EPS for the quarter, topping the consensus estimate of $0.19 by $0.23. The firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $81.04 million. Chuy’s had a return on equity of 9.28% and a net margin of 5.02%. Chuy’s’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. As a group, research analysts forecast that Chuy’s will post 1.49 EPS for the current year.

In other news, COO John Mountford sold 8,184 shares of the business’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $42.50, for a total value of $347,820.00. Following the completion of the sale, the chief operating officer now directly owns 19,340 shares in the company, valued at approximately $821,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven J. Hislop sold 52,877 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $2,432,342.00. Following the completion of the sale, the chief executive officer now owns 161,671 shares of the company’s stock, valued at $7,436,866. The disclosure for this sale can be found here. Insiders sold a total of 119,140 shares of company stock valued at $5,322,481 over the last quarter. Company insiders own 2.05% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Dorsey Wright & Associates bought a new position in Chuy’s during the 1st quarter worth $47,000. Cowa LLC bought a new position in Chuy’s during the 4th quarter worth $58,000. Citigroup Inc. grew its stake in Chuy’s by 291.4% during the 4th quarter. Citigroup Inc. now owns 4,791 shares of the restaurant operator’s stock worth $127,000 after buying an additional 3,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Chuy’s during the 4th quarter worth $204,000. Finally, Oregon Public Employees Retirement Fund grew its stake in Chuy’s by 17.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,940 shares of the restaurant operator’s stock worth $210,000 after buying an additional 1,176 shares during the last quarter.

About Chuy’s

Chuy's Holdings, Inc, through its subsidiaries, owns and operates full-service restaurants under the Chuy's name in 17 states, including the Southeastern and Midwestern United States. As of December 27, 2020, it operated 92 restaurants. The company was founded in 1982 and is headquartered in Austin, Texas.

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