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Chuy's (CHUY) Stock Jumps 6.3%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

Chuy's Holdings (CHUY) shares ended the last trading session 6.3% higher at $20.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.1% loss over the past four weeks.

Robust comparable restaurant sales and growing restaurant base have been boosting investors’ sentiment.

This restaurant operator is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -30.7%. Revenues are expected to be $112.04 million, up 3.6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Chuy's, the consensus EPS estimate for the quarter has been revised 1.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CHUY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Chuy's is a member of the Zacks Retail - Restaurants industry. One other stock in the same industry, McDonald's (MCD), finished the last trading session 0.3% lower at $234.38. MCD has returned 2.7% over the past month.

For McDonald's , the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.46. This represents a change of +3.8% from what the company reported a year ago. McDonald's currently has a Zacks Rank of #3 (Hold).


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Zacks Investment Research