Chuy’s (NASDAQ:CHUY) Shares Gap Up to $25.27

Chuy’s Holdings, Inc. (NASDAQ:CHUY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $25.27, but opened at $37.25. Chuy’s shares last traded at $37.34, with a volume of 922,902 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHUY. Jefferies Financial Group lowered Chuy’s from a “buy” rating to a “hold” rating and dropped their target price for the company from $38.00 to $24.00 in a research report on Thursday, July 11th. Benchmark restated a “buy” rating and issued a $41.00 price target on shares of Chuy’s in a research note on Thursday. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of Chuy’s in a research note on Friday, May 10th. Stifel Nicolaus decreased their price target on Chuy’s from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Finally, Piper Sandler decreased their price target on Chuy’s from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.14.

Chuy’s Trading Up 47.7 %

The company has a 50 day moving average price of $26.00 and a 200 day moving average price of $30.68. The company has a market capitalization of $643.02 million, a P/E ratio of 22.09 and a beta of 1.76.

Chuy’s (NASDAQ:CHUY) last issued its earnings results on Thursday, May 9th. The restaurant operator reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Chuy’s had a return on equity of 13.51% and a net margin of 6.58%. The company had revenue of $110.50 million during the quarter, compared to the consensus estimate of $111.67 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Chuy’s Holdings, Inc. will post 1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AJOVista LLC bought a new position in shares of Chuy’s during the 4th quarter worth approximately $53,000. Lazard Asset Management LLC boosted its stake in Chuy’s by 607.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,454 shares of the restaurant operator’s stock valued at $82,000 after purchasing an additional 2,107 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Chuy’s by 70.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,658 shares of the restaurant operator’s stock valued at $90,000 after purchasing an additional 1,096 shares during the period. SG Americas Securities LLC bought a new stake in Chuy’s in the 2nd quarter valued at $133,000. Finally, Quest Partners LLC bought a new stake in Chuy’s in the 4th quarter valued at $162,000. 99.92% of the stock is currently owned by institutional investors.

Chuy’s Company Profile

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.