BJ’s Restaurants (NASDAQ:BJRI) Hits New 12-Month High – Here’s What Happened

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares reached a new 52-week high on Thursday . The company traded as high as $56.40 and last traded at $56.33, with a volume of 338400 shares traded. The stock had previously closed at $54.62.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BJRI. Barclays decreased their target price on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 6th. Benchmark increased their price target on BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings lowered BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. DA Davidson started coverage on BJ’s Restaurants in a research note on Friday, March 6th. They issued a “neutral” rating and a $38.00 target price for the company. Finally, Citigroup reduced their price target on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

BJ’s Restaurants Stock Performance

The firm’s 50 day moving average price is $44.09 and its two-hundred day moving average price is $41.27. The firm has a market cap of $1.18 billion, a PE ratio of 28.45, a PEG ratio of 1.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.25 and a current ratio of 0.31.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). BJ’s Restaurants had a net margin of 3.15% and a return on equity of 13.48%. The firm had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $356.97 million. During the same period in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts forecast that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current year.

Insider Activity at BJ’s Restaurants

In other news, EVP Brian S. Krakower sold 7,341 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.17, for a total transaction of $405,002.97. Following the completion of the transaction, the executive vice president directly owned 4,721 shares in the company, valued at approximately $260,457.57. This represents a 60.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lea Anne Ottinger sold 2,792 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.50, for a total value of $149,372.00. Following the sale, the director directly owned 39,701 shares of the company’s stock, valued at $2,124,003.50. The trade was a 6.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,817 shares of company stock valued at $3,384,688 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

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

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.