BJ’s Restaurants (NASDAQ:BJRI) Hits New 52-Week High – Time to Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $62.68 and last traded at $62.2650, with a volume of 36066 shares traded. The stock had previously closed at $60.23.

Analysts Set New Price Targets

Several brokerages have recently commented on BJRI. Benchmark raised their price objective on shares of 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 cut their price target on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings cut BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup lowered their price objective on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Mizuho dropped their price objective on BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.00.

BJ’s Restaurants Stock Up 2.8%

The company has a market capitalization of $1.30 billion, a PE ratio of 31.29, a PEG ratio of 1.92 and a beta of 1.31. The company’s 50 day moving average is $48.76 and its two-hundred day moving average is $42.81. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $358.12 million during the quarter, compared to the consensus estimate 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 revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts anticipate that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current year.

Insider Activity

In other news, EVP Gregory S. Lynds sold 6,201 shares of BJ’s Restaurants stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.86, for a total value of $346,387.86. Following the sale, the executive vice president directly owned 46,474 shares of the company’s stock, valued at approximately $2,596,037.64. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Noah A. Elbogen sold 4,652 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $54.00, for a total value of $251,208.00. Following the completion of the sale, the director owned 76,235 shares in the company, valued at $4,116,690. This represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 63,817 shares of company stock valued at $3,384,688. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of BJ’s Restaurants

Several hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in shares of BJ’s Restaurants by 187.7% during the 4th 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 increased its position in BJ’s Restaurants by 1,618.3% in the third quarter. Quarry LP now owns 1,031 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 971 shares during the last quarter. GAMMA Investing LLC increased its position in BJ’s Restaurants by 39.3% in 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 during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in BJ’s Restaurants during the fourth quarter valued at $63,000. Finally, US Bancorp DE raised 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 valued at $101,000 after purchasing an additional 418 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.