Chuy’s (NASDAQ:CHUY) Shares Gap Up to $27.76

Chuy’s Holdings, Inc. (NASDAQ:CHUY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $27.76, but opened at $28.54. Chuy’s shares last traded at $28.54, with a volume of 90 shares trading hands.

CHUY has been the topic of several research analyst reports. Wedbush reduced their price objective on Chuy’s from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Thursday, October 28th. Zacks Investment Research raised Chuy’s from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, January 5th. Stephens lifted their price target on Chuy’s from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, November 5th. Benchmark began coverage on Chuy’s in a research note on Tuesday, November 23rd. They set a “hold” rating on the stock. Finally, Jefferies Financial Group raised Chuy’s from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $41.00 in a research note on Friday, September 24th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Chuy’s presently has a consensus rating of “Hold” and an average price target of $40.00.

The stock has a 50 day simple moving average of $30.11 and a 200 day simple moving average of $31.92. The stock has a market cap of $549.70 million, a price-to-earnings ratio of 21.52 and a beta of 2.01.

Chuy’s (NASDAQ:CHUY) last announced its earnings results on Thursday, November 4th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $103.04 million. Chuy’s had a return on equity of 13.34% and a net margin of 6.90%. Chuy’s’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts forecast that Chuy’s Holdings, Inc. will post 1.81 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Chuy’s during the third quarter valued at approximately $140,000. PNC Financial Services Group Inc. boosted its position in shares of Chuy’s by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 5,279 shares of the restaurant operator’s stock valued at $165,000 after buying an additional 311 shares during the last quarter. Virtu Financial LLC purchased a new position in Chuy’s in the second quarter worth $200,000. Everence Capital Management Inc. purchased a new position in Chuy’s in the third quarter worth $219,000. Finally, Metropolitan Life Insurance Co NY boosted its position in Chuy’s by 100,100.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 6,012 shares of the restaurant operator’s stock worth $224,000 after purchasing an additional 6,006 shares during the last quarter. 98.36% of the stock is currently owned by institutional investors.

About Chuy’s (NASDAQ:CHUY)

Chuy’s Holdings, Inc engages in the ownership and operation of full-service restaurants serving a distinct menu of authentic Mexican and Tex-Mex inspired food. Its menu includes enchiladas, fajitas, rellenos, tacos, burritos, combination platters and daily specials, complemented by a variety of appetizers, soups, and salads.

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