BJ’s Restaurants (NASDAQ:BJRI) Share Price Passes Above 200 Day Moving Average – Time to Sell?

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.41 and traded as high as $62.58. BJ’s Restaurants shares last traded at $62.14, with a volume of 363,311 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson set a $65.00 price objective on BJ’s Restaurants in a research report on Friday, July 31st. Citigroup lifted their target price on shares of BJ’s Restaurants from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Benchmark upped their price target on shares of BJ’s Restaurants from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised shares of BJ’s Restaurants from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Zacks Research raised shares of BJ’s Restaurants from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.88.

BJ’s Restaurants Stock Performance

The company’s 50-day moving average price is $65.03 and its 200 day moving average price is $50.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.29. The stock has a market capitalization of $1.28 billion, a PE ratio of 32.15, a PEG ratio of 1.87 and a beta of 1.30.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. BJ’s Restaurants had a net margin of 2.86% and a return on equity of 12.93%. The company had revenue of $388.89 million for the quarter, compared to analysts’ expectations of $377.07 million. During the same quarter in the previous year, the company earned $0.97 earnings per share. BJ’s Restaurants’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that BJ’s Restaurants, Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Gregory Lynds sold 25,350 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $67.47, for a total value of $1,710,364.50. Following the completion of the transaction, the executive vice president owned 46,474 shares of the company’s stock, valued at approximately $3,135,600.78. This represents a 35.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Noah Elbogen sold 7,535 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $70.14, for a total value of $528,504.90. Following the completion of the transaction, the director owned 71,655 shares of the company’s stock, valued at approximately $5,025,881.70. The trade was a 9.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 108,031 shares of company stock worth $6,871,209. Company insiders own 2.40% of the company’s stock.

Institutional Trading of BJ’s Restaurants

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in shares of BJ’s Restaurants during the second quarter valued at approximately $28,000. Bard Associates Inc. purchased a new stake in shares of BJ’s Restaurants in the 2nd quarter worth approximately $30,000. Integrated Wealth Concepts LLC bought a new position in BJ’s Restaurants during the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp increased its position in BJ’s Restaurants by 5,341.1% during the 1st quarter. Fifth Third Bancorp now owns 3,047 shares of the restaurant operator’s stock valued at $107,000 after buying an additional 2,991 shares in the last quarter. Finally, AXQ Capital LP bought a new position in BJ’s Restaurants during the 2nd quarter valued at approximately $204,000. Institutional investors own 99.95% of the company’s stock.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc operates casual dining restaurants under the BJ’s Restaurant & Brewhouse brand. Its restaurants offer a broad menu that includes deep-dish and tavern-style pizzas, burgers, salads, sandwiches, pasta, entrees, desserts and other American-style cuisine.

The company is also known for its handcrafted beer program, which includes a range of house-brewed beers served alongside its food offerings. BJ’s restaurants generally combine full-service dining with a casual, family-friendly atmosphere and operate in locations across the United States.

BJ’s Restaurants traces its origins to 1978, when its first location opened in Southern California.