BJ’s Restaurants, Inc. (BJRI) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “BJ’s Restaurants posted third-quarter fiscal 2017 adjusted earnings of 15 cents per share that fell short of the Zacks Consensus Estimate by 37.5%. Also, earnings declined 50% year over year due to increased expenses and adverse effects of the recent hurricanes. Revenues of $247 million were up 5.7% year over year given increase in total operating weeks but missed the consensus mark by 0.7%. Meanwhile, comps declined 1.7% in the quarter. Additionally, BJ’s Restaurants shares have underperformed the industry in the last six months. Nevertheless, the four strategic sales-building initiatives undertaken by the company are expected to boost the top line, going forward. Also, a deep pipeline of new menu items, loyalty program enhancements and other productivity and digital initiatives are likely to improve performance. Even so, higher costs, an uncertain sales environment and a slowdown in company’s development plan remain concerns.”
BJRI has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on shares of BJ’s Restaurants in a research note on Monday, October 2nd. They issued a hold rating and a $32.00 target price on the stock. Canaccord Genuity restated a buy rating and issued a $42.00 target price on shares of BJ’s Restaurants in a research note on Friday, October 6th. Robert W. Baird restated a hold rating and issued a $36.00 target price on shares of BJ’s Restaurants in a research note on Friday, September 1st. Jefferies Group LLC restated a hold rating and issued a $39.00 target price on shares of BJ’s Restaurants in a research note on Thursday, August 31st. Finally, Wells Fargo & Company cut their target price on shares of BJ’s Restaurants from $35.00 to $30.00 and set a market perform rating on the stock in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. BJ’s Restaurants currently has a consensus rating of Hold and a consensus target price of $36.89.
Shares of BJ’s Restaurants (NASDAQ BJRI) traded up $0.55 during trading on Friday, hitting $31.20. 554,000 shares of the stock were exchanged, compared to its average volume of 450,142. The firm has a market cap of $647.37, a price-to-earnings ratio of 19.38, a PEG ratio of 1.45 and a beta of 0.92. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. BJ’s Restaurants has a 1-year low of $28.00 and a 1-year high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, October 26th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $247.00 million during the quarter, compared to analyst estimates of $248.73 million. BJ’s Restaurants had a net margin of 3.30% and a return on equity of 13.85%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. equities analysts expect that BJ’s Restaurants will post 1.41 EPS for the current year.
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The firm also recently disclosed a special dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 10th.
In other BJ’s Restaurants news, VP Gregory S. Lynds sold 3,621 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $30.48, for a total value of $110,368.08. Following the sale, the vice president now owns 19,103 shares in the company, valued at $582,259.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Walsh sold 37,764 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.59, for a total transaction of $1,192,964.76. Following the completion of the sale, the director now owns 19,844 shares in the company, valued at approximately $626,871.96. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in shares of BJ’s Restaurants by 77.9% in the second quarter. State of Alaska Department of Revenue now owns 3,557 shares of the restaurant operator’s stock valued at $132,000 after purchasing an additional 1,557 shares during the period. Victory Capital Management Inc. increased its stake in shares of BJ’s Restaurants by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,391 shares of the restaurant operator’s stock valued at $164,000 after purchasing an additional 657 shares during the period. SG Americas Securities LLC increased its stake in shares of BJ’s Restaurants by 20.8% in the second quarter. SG Americas Securities LLC now owns 5,093 shares of the restaurant operator’s stock valued at $190,000 after purchasing an additional 877 shares during the period. Pacad Investment Ltd. increased its stake in shares of BJ’s Restaurants by 1.8% in the second quarter. Pacad Investment Ltd. now owns 5,800 shares of the restaurant operator’s stock valued at $216,000 after purchasing an additional 100 shares during the period. Finally, Suntrust Banks Inc. acquired a new stake in shares of BJ’s Restaurants in the second quarter valued at approximately $231,000. Institutional investors own 99.00% of the company’s stock.
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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