BJ’s Restaurants (NASDAQ:BJRI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, June 13th. The firm currently has a $65.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.88% from the stock’s previous close.
According to Zacks, “BJ’s Restaurants’ shares have outperformed the industry in the past year. We are optimistic about the company’s growth, as diverse sales-driving efforts bolstered its top-line performance in the first quarter of 2018. Further, earning and revenues not only surged year-over-year but also surpassed the Zacks Consensus Estimate. Results were driven by improved comps and restaurant operating margins. BJ Restaurants’ high-quality slow-roasted menu has been favoring growth in foot traffic, while daily Brewhouse Specials are contributing directly to the company’s top line. Apart from menu innovation, the company’s cost containment initiatives are improving margins. Also, of late, earnings estimates for the current year have inched up, reflecting analysts’ confidence on its future potential. However, high costs and limited international presence raise concerns.”
Other equities research analysts have also issued reports about the company. Wedbush increased their price target on BJ’s Restaurants from $48.00 to $52.00 in a research report on Friday, April 13th. They noted that the move was a valuation call. Stifel Nicolaus increased their price target on BJ’s Restaurants from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 27th. Canaccord Genuity reissued a “buy” rating and issued a $62.00 price target (up from $57.00) on shares of BJ’s Restaurants in a research report on Friday, April 20th. ValuEngine raised BJ’s Restaurants from a “hold” rating to a “buy” rating in a research report on Monday, April 9th. Finally, BidaskClub raised BJ’s Restaurants from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. BJ’s Restaurants currently has a consensus rating of “Buy” and an average price target of $49.20.
Shares of BJ’s Restaurants opened at $59.70 on Wednesday, MarketBeat Ratings reports. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. BJ’s Restaurants has a twelve month low of $28.00 and a twelve month high of $60.00. The company has a market cap of $1.23 billion, a PE ratio of 42.34, a PEG ratio of 1.95 and a beta of 0.68.
BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Thursday, April 26th. The restaurant operator reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.14. The business had revenue of $278.52 million during the quarter, compared to analyst estimates of $273.86 million. BJ’s Restaurants had a return on equity of 13.81% and a net margin of 4.77%. BJ’s Restaurants’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. equities analysts predict that BJ’s Restaurants will post 2 EPS for the current fiscal year.
In other news, Director Noah A. Elbogen sold 5,126 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $56.00, for a total transaction of $287,056.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greg Trojan sold 83,298 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $55.73, for a total value of $4,642,197.54. Following the transaction, the chief executive officer now owns 129,908 shares of the company’s stock, valued at approximately $7,239,772.84. The disclosure for this sale can be found here. Insiders sold a total of 733,031 shares of company stock valued at $40,636,328 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of BJRI. Schwab Charles Investment Management Inc. grew its stake in shares of BJ’s Restaurants by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 173,574 shares of the restaurant operator’s stock worth $6,319,000 after acquiring an additional 7,512 shares during the period. Teacher Retirement System of Texas bought a new position in shares of BJ’s Restaurants during the 4th quarter worth $230,000. Pinebridge Investments L.P. grew its stake in shares of BJ’s Restaurants by 26.7% during the 4th quarter. Pinebridge Investments L.P. now owns 32,810 shares of the restaurant operator’s stock worth $1,194,000 after acquiring an additional 6,908 shares during the period. Arizona State Retirement System grew its stake in shares of BJ’s Restaurants by 212.7% during the 4th quarter. Arizona State Retirement System now owns 30,167 shares of the restaurant operator’s stock worth $1,098,000 after acquiring an additional 20,521 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of BJ’s Restaurants by 11.6% during the 4th quarter. Rhumbline Advisers now owns 50,662 shares of the restaurant operator’s stock worth $1,844,000 after acquiring an additional 5,271 shares during the period. Institutional investors own 94.36% of the company’s stock.
BJ’s Restaurants Company Profile
BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of June 12, 2018, the company owned and operated 200 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.
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