BJ’s Restaurants (NASDAQ:BJRI) Reaches New 12-Month High – Still a Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI) reached a new 52-week high during trading on Wednesday . The company traded as high as $54.05 and last traded at $53.8740, with a volume of 106785 shares trading hands. The stock had previously closed at $51.78.

Analyst Ratings Changes

BJRI has been the subject of a number of analyst reports. Mizuho lowered their price target on BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Citigroup decreased their target price on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Benchmark raised their target price on BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays decreased their target price on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Trading Up 4.1%

The company has a market capitalization of $1.13 billion, a PE ratio of 27.21, a PEG ratio of 1.67 and a beta of 1.35. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $42.11 and a two-hundred day moving average of $40.58.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings data on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The firm had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $356.97 million. BJ’s Restaurants had a net margin of 3.15% and a return on equity of 13.48%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts anticipate that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current fiscal year.

Insider Activity at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 3,475 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $46.71, for a total transaction of $162,317.25. Following the transaction, the executive vice president directly owned 4,721 shares of the company’s stock, valued at approximately $220,517.91. This trade represents a 42.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory S. Lynds sold 5,537 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.76, for a total value of $281,058.12. Following the transaction, the executive vice president directly owned 46,474 shares in the company, valued at approximately $2,359,020.24. This represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,570 shares of company stock worth $1,161,806 in the last quarter. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BJ’s Restaurants

A number of large investors have recently bought and sold shares of BJRI. CWM LLC increased its stake in BJ’s Restaurants by 187.7% in the 4th quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 456 shares during the period. Quarry LP increased its stake in shares of BJ’s Restaurants by 1,618.3% during the third quarter. Quarry LP now owns 1,031 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 971 shares during the period. GAMMA Investing LLC increased its stake in shares of BJ’s Restaurants by 39.3% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 265 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of BJ’s Restaurants during the fourth quarter valued at approximately $63,000. Finally, US Bancorp DE increased its stake in shares of BJ’s Restaurants by 14.5% during the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 418 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

About BJ’s Restaurants

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.