Chuy's (CHUY) got a slight bump after hours following a Q1 earnings beat. The stock continues to maintain a stretched valuation based on these numbers: Reports Q1 (Mar) earnings of $0.27 per share, $0.05 better than the Capital IQ Consensus of $0.22; revenues rose 16.9% year/year to $78.1 mln vs the $76.88 mln Capital IQ Consensus. Comparable restaurant sales increased 3.2% as compared to the same period in 2015, the 23rd consecutive quarter of comparable restaurant sales growth.Co increases guidance for FY16, sees EPS of $1.03-1.07 vs. $1.05 Capital IQ Consensus Estimate, up from $1.01-1.05 prior guidance. Sees comparable restaurant sales growth of approximately 2.0% for the remainder of the year. Chuy's remains a solid expansion story, but the restaurant concept reports relatively bland results for the valuation. Comp sales growth of 3.2% is nothing to write home about and 17% total revenue growth is about average. The stock though trades at 26x forward EPS estimates with somewhere around 15% growth rates at this time. Solid company with limited upside with the stock trading above $32. Disclosure: No position