KeyBanc Starts Chuy's Holdings (CHUY) at Hold; Just Waiting For A Pullback

August 20, 2012 7:52 AM EDT
Get Alerts CHUY Hot Sheet
Price: $29.55 +1.20%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc initiates coverage on Chuy's Holdings (NASDAQ: CHUY) with a Hold.

Analyst, Christopher O'Cull, said, "Chuy's is the fastest-growing, publicly-traded restaurant company with 22%+ revenue growth anticipated for the next five years, fueled by best-in-class new unit returns (30-35% cash-on-cash, including pre-opening expense, and 23% fully-capitalized). Since its IPO in July, shares have appreciated 35% and are currently valued at 34x NTM EPS and 13x NTM EBITDA. We believe fair value is in the $18-$20 range, and under the KBCM rating system the expected return merits a HOLD rating. We would consider becoming more constructive on a pullback unrelated to a slowdown in unit growth or new store sales performance; ideally, investors over-reacting to a SRS disappointment would create a nice entry-point."

For an analyst ratings summary and ratings history on Chuy's Holdings click here. For more ratings news on Chuy's Holdings click here.

Shares of Chuy's Holdings closed at $17.53 yesterday.

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