Brokerages Set BJ’s Restaurants, Inc. (NASDAQ:BJRI) PT at $56.88

BJ’s Restaurants, Inc. (NASDAQ:BJRI) has received an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $56.8750.

Several research firms have issued reports on BJRI. William Blair upgraded shares of BJ’s Restaurants from a “market perform” rating to an “outperform” rating in a research note on Friday, July 17th. Zacks Research upgraded shares of BJ’s Restaurants from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings cut shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Benchmark increased their price objective on shares of BJ’s Restaurants from $68.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Citigroup raised their target price on shares of BJ’s Restaurants from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 31st.

Insider Activity at BJ’s Restaurants

In related news, Director Noah A. Elbogen sold 4,652 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $54.00, for a total transaction of $251,208.00. Following the completion of the sale, the director directly owned 76,235 shares in the company, valued at approximately $4,116,690. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lea Anne Ottinger sold 2,792 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.50, for a total transaction of $149,372.00. Following the sale, the director directly owned 39,701 shares of the company’s stock, valued at approximately $2,124,003.50. This represents 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 124,066 shares of company stock valued at $7,504,509 in the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On BJ’s Restaurants

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of BJ’s Restaurants in the second quarter worth $200,006,000. Deutsche Bank AG bought a new stake in shares of BJ’s Restaurants during the 2nd quarter valued at $1,254,000. Bank of New York Mellon Corp purchased a new position in shares of BJ’s Restaurants during the 2nd quarter valued at $7,516,000. State of Wyoming purchased a new position in shares of BJ’s Restaurants during the 2nd quarter valued at $393,000. Finally, Bank of America Corp DE boosted its holdings in BJ’s Restaurants by 73.5% in the 1st quarter. Bank of America Corp DE now owns 324,588 shares of the restaurant operator’s stock worth $11,393,000 after buying an additional 137,511 shares during the period. Institutional investors own 99.95% of the company’s stock.

Trending Headlines about BJ’s Restaurants

Here are the key news stories impacting BJ’s Restaurants this week:

• Positive Sentiment: Recent analyst actions remain supportive. Benchmark raised its price target from $68 to $80 and upgraded the stock to “Buy,” while William Blair moved BJRI to “Outperform.” Zacks also identified BJRI as a highly ranked value stock and included it among stocks benefiting from recent broker upgrades. Zacks value stock article Zacks broker upgrades article
• Positive Sentiment: The latest quarterly results exceeded expectations: earnings per share were $0.94 versus the $0.90 consensus estimate, while revenue of $388.9 million surpassed forecasts of $377.1 million and increased 6.4% year over year. These results provide fundamental support for BJRI, although EPS was below $0.97 in the prior-year quarter.
• Positive Sentiment: Several institutions increased their BJRI holdings during the first quarter, including Bank of America, which raised its position by 73.5%, and Royal Bank of Canada, which increased its stake by 238%. Institutional investors own approximately 99.95% of the shares.
• Neutral Sentiment: Analyst opinion remains cautious overall. BJRI has an average “Hold” recommendation, with five Holds and two Sells compared with four Buy or Strong Buy ratings. The consensus price target is $56.88, below recent trading levels, although individual targets range as high as $80. Average Hold recommendation article
• Negative Sentiment: Insiders have sold heavily as the stock trades near its 52-week high. EVP Gregory S. Lynds sold 21,704 shares on August 6 after selling 25,350 shares on August 3, reducing his holdings by 46.7% in the latest transaction. EVP Kendra D. Miller sold 10,217 shares on August 6 and another 2,978 shares on August 7, cutting her position by 10.4% in the latest sale. The transactions totaled roughly $4.1 million and may reinforce profit-taking concerns.

BJ’s Restaurants Price Performance

NASDAQ:BJRI opened at $69.55 on Friday. 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 firm has a market cap of $1.48 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.12 and a beta of 1.32. BJ’s Restaurants has a fifty-two week low of $28.46 and a fifty-two week high of $74.60. The firm has a 50-day simple moving average of $59.01 and a two-hundred day simple moving average of $46.46.

BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $388.89 million for the quarter, compared to the consensus estimate of $377.07 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts predict that BJ’s Restaurants will post 2.35 earnings per share for the current fiscal year.

BJ’s Restaurants Company Profile

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.