BJ’s Restaurants (NASDAQ:BJRI) Trading Down 5.5% After Analyst Downgrade

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares fell 5.5% during mid-day trading on Monday after Deutsche Bank downgraded the stock from a buy rating to a hold rating. Deutsche Bank now has a $44.00 price target on the stock. BJ’s Restaurants traded as low as $40.93 and last traded at $40.98, 731,028 shares were traded during trading. An increase of 43% from the average session volume of 512,627 shares. The stock had previously closed at $43.35.

A number of other brokerages have also issued reports on BJRI. Stephens lowered their target price on shares of BJ’s Restaurants from $70.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Loop Capital lowered their target price on shares of BJ’s Restaurants from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Oppenheimer lowered their target price on shares of BJ’s Restaurants from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. ValuEngine raised shares of BJ’s Restaurants from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Co lowered their target price on shares of BJ’s Restaurants from $37.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. BJ’s Restaurants currently has a consensus rating of “Hold” and a consensus target price of $46.13.

In other BJ’s Restaurants news, CEO Greg Trojan acquired 14,400 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $32.92 per share, with a total value of $474,048.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald W. Deitchle bought 3,000 shares of BJ’s Restaurants stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $33.81 per share, with a total value of $101,430.00. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BJRI. Aperio Group LLC bought a new position in BJ’s Restaurants in the second quarter worth about $135,000. Quantitative Systematic Strategies LLC bought a new position in BJ’s Restaurants in the second quarter worth about $203,000. Campbell & CO Investment Adviser LLC bought a new position in BJ’s Restaurants in the third quarter worth about $210,000. Menta Capital LLC bought a new position in BJ’s Restaurants in the second quarter worth about $268,000. Finally, Fox Run Management L.L.C. bought a new position in BJ’s Restaurants in the second quarter worth about $272,000.

The firm has a market capitalization of $750.72 million, a P/E ratio of 17.44, a P/E/G ratio of 1.34 and a beta of 0.88. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.37 and a quick ratio of 0.30. The stock’s fifty day simple moving average is $36.99 and its 200 day simple moving average is $41.33.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, October 24th. The restaurant operator reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.08. The business had revenue of $278.74 million during the quarter, compared to the consensus estimate of $278.49 million. BJ’s Restaurants had a net margin of 3.60% and a return on equity of 13.02%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts forecast that BJ’s Restaurants, Inc. will post 1.9 EPS for the current fiscal year.

About BJ’s Restaurants (NASDAQ:BJRI)

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.

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