Brokerages Set BJ’s Restaurants Inc. (NASDAQ:BJRI) Price Target at $39.60
Shares of BJ’s Restaurants Inc. (NASDAQ:BJRI) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $39.60.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of BJ’s Restaurants from a “strong sell” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, September 27th. Wedbush lowered shares of BJ’s Restaurants from an “outperform” rating to a “neutral” rating and cut their price target for the company from $47.00 to $40.00 in a research report on Friday, September 9th. Robert W. Baird restated a “neutral” rating on shares of BJ’s Restaurants in a research report on Thursday, September 8th. Canaccord Genuity began coverage on shares of BJ’s Restaurants in a research report on Monday, August 22nd. They set a “hold” rating and a $43.00 price target for the company. Finally, Jefferies Group restated a “hold” rating on shares of BJ’s Restaurants in a research report on Wednesday, August 3rd.
In related news, Director Pozzo James Dal sold 5,358 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $40.04, for a total value of $214,534.32. Following the completion of the transaction, the director now directly owns 4,304 shares of the company’s stock, valued at $172,332.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Noah A. Elbogen purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average cost of $39.17 per share, with a total value of $1,175,100.00. Following the completion of the purchase, the director now owns 1,271 shares of the company’s stock, valued at $49,785.07. The disclosure for this purchase can be found here. Insiders own 7.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BJRI. BlackRock Institutional Trust Company N.A. increased its position in BJ’s Restaurants by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 542,290 shares of the company’s stock worth $22,543,000 after buying an additional 10,377 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in BJ’s Restaurants during the first quarter worth about $1,180,000. Spark Investment Management LLC bought a new position in BJ’s Restaurants during the first quarter worth about $927,000. GW&K Investment Management LLC increased its position in BJ’s Restaurants by 241.4% in the second quarter. GW&K Investment Management LLC now owns 304,722 shares of the company’s stock worth $13,356,000 after buying an additional 215,477 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in BJ’s Restaurants during the first quarter worth about $2,999,000. 93.55% of the stock is owned by institutional investors.
BJ’s Restaurants (NASDAQ:BJRI) opened at 35.39 on Tuesday. BJ’s Restaurants has a 52 week low of $34.83 and a 52 week high of $47.95. The company has a market capitalization of $855.48 million, a PE ratio of 18.36 and a beta of 1.17. The stock has a 50 day moving average price of $38.18 and a 200-day moving average price of $42.08.
BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Tuesday, July 26th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. BJ’s Restaurants had a return on equity of 14.58% and a net margin of 5.09%. The company earned $250.30 million during the quarter, compared to analysts’ expectations of $253.23 million. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that BJ’s Restaurants will post $1.85 earnings per share for the current fiscal year.
About BJ’s Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company’s restaurants are operated as a BJ’s Restaurant & Brewery, a BJ’s Restaurant & Brewhouse, a BJ’s Pizza & Grill and a BJ’s Grill restaurant. Its menu features deep-dish pizza, craft beers and other beers, as well as a selection of appetizers, entrees, pastas, sandwiches, specialty salads and desserts, including its Pizookie dessert.
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