BJ’s Restaurants, Inc. (NASDAQ:BJRI) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 2,064,574 shares, a drop of 26.2% from the July 31st total of 2,798,639 shares. Approximately 9.8% of the company’s stock are short sold. Based on an average daily volume of 590,453 shares, the short-interest ratio is currently 3.5 days.

BJRI has been the topic of a number of recent research reports. BidaskClub downgraded shares of BJ’s Restaurants from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of BJ’s Restaurants from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Wedbush reiterated a “hold” rating and set a $45.00 price objective on shares of BJ’s Restaurants in a research note on Thursday, May 25th. Canaccord Genuity upgraded shares of BJ’s Restaurants from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Friday, July 14th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $41.00 target price (down from $44.00) on shares of BJ’s Restaurants in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. BJ’s Restaurants has a consensus rating of “Hold” and a consensus price target of $39.78.

Shares of BJ’s Restaurants (NASDAQ:BJRI) opened at 30.10 on Friday. The firm has a market capitalization of $645.52 million, a P/E ratio of 17.74 and a beta of 1.08. BJ’s Restaurants has a 52 week low of $30.02 and a 52 week high of $47.55. The firm has a 50-day moving average of $33.36 and a 200 day moving average of $38.68.

BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by $0.02. BJ’s Restaurants had a return on equity of 14.51% and a net margin of 3.82%. The firm had revenue of $265.80 million for the quarter, compared to analyst estimates of $269.48 million. During the same quarter last year, the firm earned $0.56 EPS. The company’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that BJ’s Restaurants will post $1.63 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BJRI. BlackRock Inc. boosted its position in BJ’s Restaurants by 132,808.6% in the first quarter. BlackRock Inc. now owns 2,518,618 shares of the restaurant operator’s stock valued at $101,752,000 after buying an additional 2,516,723 shares during the period. UBS Oconnor LLC boosted its position in shares of BJ’s Restaurants by 1,090.8% in the second quarter. UBS Oconnor LLC now owns 330,679 shares of the restaurant operator’s stock valued at $12,318,000 after buying an additional 302,910 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of BJ’s Restaurants during the second quarter valued at about $10,703,000. Marshall Wace North America L.P. bought a new position in shares of BJ’s Restaurants during the second quarter valued at about $8,188,000. Finally, BlueCrest Capital Management Ltd boosted its position in shares of BJ’s Restaurants by 1,258.4% in the second quarter. BlueCrest Capital Management Ltd now owns 162,623 shares of the restaurant operator’s stock valued at $6,058,000 after buying an additional 150,651 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

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BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.

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