BJ’s Restaurants, Inc. (NASDAQ:BJRI) was upgraded by Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, July 14th, MarketBeat reports. The brokerage presently has a $45.00 price target on the restaurant operator’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 37.20% from the stock’s current price.
BJRI has been the topic of several other research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price target on shares of BJ’s Restaurants in a research note on Thursday, April 27th. Wedbush raised BJ’s Restaurants from an “underperform” rating to a “neutral” rating and upped their price target for the company from $31.50 to $41.00 in a research note on Thursday, April 20th. TheStreet lowered BJ’s Restaurants from a “b” rating to a “c+” rating in a research note on Friday, July 7th. Finally, BidaskClub lowered BJ’s Restaurants from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. BJ’s Restaurants has a consensus rating of “Hold” and a consensus price target of $39.33.
BJ’s Restaurants (NASDAQ BJRI) traded down 0.76% on Friday, reaching $32.80. The company had a trading volume of 866,998 shares. The company’s 50 day moving average price is $35.90 and its 200-day moving average price is $39.14. The company has a market capitalization of $707.10 million, a price-to-earnings ratio of 19.33 and a beta of 1.08. BJ’s Restaurants has a 12 month low of $30.40 and a 12 month high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.02. BJ’s Restaurants had a net margin of 3.82% and a return on equity of 14.51%. The firm had revenue of $265.80 million for the quarter, compared to analyst estimates of $269.48 million. During the same period last year, the company earned $0.56 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that BJ’s Restaurants will post $1.63 earnings per share for the current fiscal year.
BJ’s Restaurants announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 27th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the restaurant operator to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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In other BJ’s Restaurants news, insider Alex Puchner sold 7,073 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $45.80, for a total value of $323,943.40. Following the completion of the sale, the insider now directly owns 4,094 shares in the company, valued at $187,505.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin E. Mayer sold 4,468 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $45.46, for a total value of $203,115.28. Following the completion of the sale, the vice president now owns 5,817 shares of the company’s stock, valued at $264,440.82. The disclosure for this sale can be found here. Insiders sold 22,793 shares of company stock valued at $1,035,319 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BJRI. First Trust Advisors LP purchased a new position in BJ’s Restaurants during the first quarter worth about $1,590,000. Great West Life Assurance Co. Can increased its position in BJ’s Restaurants by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 27,137 shares of the restaurant operator’s stock worth $1,095,000 after buying an additional 172 shares during the last quarter. Wells Fargo & Company MN increased its position in BJ’s Restaurants by 14.1% in the first quarter. Wells Fargo & Company MN now owns 85,624 shares of the restaurant operator’s stock worth $3,459,000 after buying an additional 10,600 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in BJ’s Restaurants during the first quarter worth about $527,000. Finally, Rothschild Investment Corp IL increased its position in BJ’s Restaurants by 3.5% in the first quarter. Rothschild Investment Corp IL now owns 80,620 shares of the restaurant operator’s stock worth $3,257,000 after buying an additional 2,730 shares during the last quarter. Institutional investors and hedge funds own 94.15% 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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