Chuy’s Holdings (CHUY) to Buyback $30.00 million in Shares
Chuy’s Holdings (NASDAQ:CHUY) announced that its Board of Directors has approved a share repurchase plan, which permits the company to repurchase $30.00 million in shares on Thursday, November 2nd, EventVestor reports. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts recently commented on CHUY shares. Raymond James Financial, Inc. raised Chuy’s Holdings from a “market perform” rating to an “outperform” rating and set a $29.00 target price for the company 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 reaffirmed a “hold” rating and issued a $23.00 target price on shares of Chuy’s Holdings in a research report on Sunday, July 30th. BMO Capital Markets decreased their target price on Chuy’s Holdings from $31.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, August 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price (down from $28.00) on shares of Chuy’s Holdings in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.00.
Shares of Chuy’s Holdings (NASDAQ:CHUY) traded up $0.65 on Friday, reaching $22.40. The company’s stock had a trading volume of 572,899 shares, compared to its average volume of 213,267. The stock has a market capitalization of $357.55 million, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.18 and a beta of -0.01.
Chuy’s Holdings (NASDAQ:CHUY) last issued its quarterly earnings results on Thursday, November 2nd. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). Chuy’s Holdings had a net margin of 4.37% and a return on equity of 9.98%. The company had revenue of $92.19 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the previous year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. analysts forecast that Chuy’s Holdings will post 1.02 earnings per share for the current year.
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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.
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