Chuy’s (NASDAQ:CHUY) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Chuy’s (NASDAQ:CHUYGet Rating) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.

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. “

A number of other brokerages have also issued reports on CHUY. Robert W. Baird upped their target price on shares of Chuy’s from $28.00 to $31.00 in a research report on Friday, February 18th. StockNews.com began coverage on shares of Chuy’s in a research report on Thursday, March 31st. They set a buy rating on the stock. Finally, Benchmark raised shares of Chuy’s from a hold rating to a buy rating and set a $35.00 price target for the company in a research note on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $36.17.

NASDAQ:CHUY opened at $22.92 on Friday. The firm has a market capitalization of $434.06 million, a price-to-earnings ratio of 15.70 and a beta of 1.81. Chuy’s has a 12 month low of $22.60 and a 12 month high of $46.84. The company has a 50-day moving average price of $26.36.

Chuy’s (NASDAQ:CHUYGet Rating) last announced its earnings results on Thursday, May 5th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Chuy’s had a net margin of 7.10% and a return on equity of 13.69%. The company had revenue of $100.50 million for the quarter, compared to analyst estimates of $98.35 million. During the same period in the prior year, the business earned $0.42 earnings per share. Chuy’s’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts anticipate that Chuy’s will post 1.44 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. KBC Group NV raised its holdings in Chuy’s by 27.2% in the first quarter. KBC Group NV now owns 4,154 shares of the restaurant operator’s stock worth $112,000 after purchasing an additional 889 shares during the period. SG Americas Securities LLC acquired a new stake in Chuy’s in the third quarter worth $140,000. PNC Financial Services Group Inc. raised its holdings in Chuy’s by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,279 shares of the restaurant operator’s stock worth $165,000 after purchasing an additional 311 shares during the period. Commerce Bank raised its holdings in Chuy’s by 15.2% in the first quarter. Commerce Bank now owns 8,675 shares of the restaurant operator’s stock worth $234,000 after purchasing an additional 1,145 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Chuy’s in the third quarter worth $246,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.

Chuy’s Company Profile (Get Rating)

Chuy's Holdings, Inc, through its subsidiaries, owns and operates full-service restaurants under the Chuy's name in the United States. As of December 26, 2021, it operated 96 restaurants in 17 states, including the Southeastern and Midwestern United States. The company was founded in 1982 and is headquartered in Austin, Texas.

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