Chuy’s Holdings, Inc. (NASDAQ:CHUY) Price Target Cut to $23.00 by Analysts at Robert W. Baird

Chuy’s Holdings, Inc. (NASDAQ:CHUY) had its price target cut by equities research analysts at Robert W. Baird from $24.00 to $23.00 in a research note issued to investors on Friday, November 3rd. The firm currently has a “neutral” rating on the restaurant operator’s stock. Robert W. Baird’s price objective indicates a potential downside of 1.92% from the company’s current price.

A number of other equities research analysts have also issued reports on CHUY. Stephens reduced their price target on Chuy’s Holdings from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, July 6th. Raymond James Financial, Inc. raised Chuy’s Holdings from a “market perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Monday, July 17th. BidaskClub lowered Chuy’s Holdings from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Wedbush reissued a “hold” rating and set a $23.00 target price on shares of Chuy’s Holdings in a research report on Sunday, July 30th. Finally, BMO Capital Markets cut their target price on Chuy’s Holdings from $31.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Chuy’s Holdings presently has a consensus rating of “Hold” and an average price target of $26.00.

Chuy’s Holdings (NASDAQ:CHUY) traded down $0.65 on Friday, reaching $23.45. The company had a trading volume of 133,276 shares, compared to its average volume of 189,656. Chuy’s Holdings has a 1 year low of $18.00 and a 1 year high of $35.30. The firm has a market cap of $401.70, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.50 and a beta of -0.01.

Chuy’s Holdings (NASDAQ:CHUY) last posted its earnings results on Thursday, November 2nd. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Chuy’s Holdings had a return on equity of 9.98% and a net margin of 4.37%. The firm had revenue of $92.19 million for the quarter, compared to analyst estimates of $92.90 million. During the same period in the previous year, the company posted $0.29 EPS. Chuy’s Holdings’s revenue was up 7.7% on a year-over-year basis. research analysts anticipate that Chuy’s Holdings will post 0.97 EPS for the current year.

Chuy’s Holdings announced that its board has approved a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Chuy’s Holdings by 58.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,941 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 1,813 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Chuy’s Holdings by 59.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,340 shares of the restaurant operator’s stock valued at $133,000 after buying an additional 2,370 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Chuy’s Holdings in the 1st quarter valued at approximately $200,000. Aperio Group LLC acquired a new stake in shares of Chuy’s Holdings in the 2nd quarter valued at approximately $206,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Chuy’s Holdings in the 2nd quarter valued at approximately $206,000. 95.45% of the stock is owned by institutional investors and hedge funds.

About Chuy’s Holdings

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.

Analyst Recommendations for Chuy`s Holdings (NASDAQ:CHUY)

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