Chuy’s Holdings Receives a Hold from Wedbush

By Carrie Williams

Wedbush analyst Nick Setyan reiterated a Hold rating on Chuy’s Holdings (NASDAQ: CHUY) today and set a price target of $23. The company’s shares closed yesterday at $23.70, close to its 52-week low of $23.41.

Setyan observed:

“The Wedbush View: We see risk to current 2017 guidance and consensus estimates as incremental 2H:17 margin headwinds are less likely to be offset by a continuation in lackluster SSS growth trends. Therefore, we downgrade to NEUTRAL from OUTPEFORM. Checks indicate in line trends in Q2 at best. Our recent checks point to negative SSS growth in Q2, largely in-line with -0.9% consensus. We are lowering our Q2 SSS growth estimate to -1% from -0.5%.”

According to, Setyan is a 4-star analyst with an average return of 6.0% and a 61.8% success rate. Setyan covers the Services sector, focusing on stocks such as Popeyes Louisiana Kitchen, Del Taco Restaurants, and Jack In The Box Inc.

Currently, the analyst consensus on Chuy’s Holdings is Hold and the average price target is $28.25, representing a 19.2% upside.

In a report issued on June 13, Jefferies also reiterated a Hold rating on the stock with a $28 price target.

Chuy’s Holdings’ market cap is currently $400.4M and has a P/E ratio of 23.24. The company has a book value ratio of 2.4737.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Last month, Sharon Russell, the Secretary and CAO of CHUY sold 9,000 shares for a total of $277,470.

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Chuy’s Holdings, Inc. operates as an holding company with interest in operating a chain of restaurants. It offers 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. The company also offers a range of authentic, flavorful, homemade sauces, including the signature Hatch green chile and creamy jalapeno sauces. Chuy’s Holdings was founded by Michael Roger Young and John A. Zapp in 1982 and is headquartered in Austin, TX.