BJ’s Restaurants (NASDAQ:BJRI) Hits New 12-Month High – Time to Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $48.19 and last traded at $47.73, with a volume of 33381 shares changing hands. The stock had previously closed at $45.63.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BJRI. Benchmark upped their price target 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 dropped their price objective on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings lowered shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. DA Davidson began coverage on shares of BJ’s Restaurants in a report on Friday, March 6th. They issued a “neutral” rating and a $38.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Stock Up 4.9%

The company has a market capitalization of $1.01 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.43 and a beta of 1.35. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $40.53 and a two-hundred day moving average of $40.06.

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

Insider Buying and Selling

In related news, EVP Brian S. Krakower sold 3,475 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $46.71, for a total value of $162,317.25. Following the completion of the transaction, the executive vice president directly owned 4,721 shares in the company, valued at approximately $220,517.91. This represents a 42.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Noah A. Elbogen sold 4,049 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $47.85, for a total value of $193,744.65. Following the completion of the transaction, the director owned 76,235 shares of the company’s stock, valued at $3,647,844.75. The trade was a 5.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,124 shares of company stock worth $447,140. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in BJ’s Restaurants by 39.3% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 265 shares in the last quarter. US Bancorp DE lifted its stake in BJ’s Restaurants by 14.5% during the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock worth $101,000 after purchasing an additional 418 shares in the last quarter. CWM LLC lifted its stake in BJ’s Restaurants by 187.7% during the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 456 shares in the last quarter. Franklin Resources Inc. lifted its stake in BJ’s Restaurants by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 11,904 shares of the restaurant operator’s stock worth $469,000 after purchasing an additional 494 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in BJ’s Restaurants by 8.6% during the first quarter. Diversified Trust Co now owns 6,524 shares of the restaurant operator’s stock worth $229,000 after purchasing an additional 517 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

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.