BJ’s Restaurants (NASDAQ:BJRI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

BJ’s Restaurants, Inc. (NASDAQ:BJRI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.06 and traded as high as $37.20. BJ’s Restaurants shares last traded at $37.17, with a volume of 552,879 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BJRI shares. DA Davidson initiated coverage on shares of BJ’s Restaurants in a research note on Friday, March 6th. They issued a “neutral” rating and a $38.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a report on Monday, December 29th. Mizuho upped their target price on BJ’s Restaurants from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Benchmark upped their target price on BJ’s Restaurants from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Citigroup raised their price target on BJ’s Restaurants from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.38.

BJ’s Restaurants Stock Performance

The company has a current ratio of 0.40, a quick ratio of 0.33 and a debt-to-equity ratio of 0.23. The stock has a market cap of $736.49 million, a price-to-earnings ratio of 16.16, a PEG ratio of 1.19 and a beta of 1.32. The stock’s 50 day moving average is $39.50 and its two-hundred day moving average is $37.07.

BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. BJ’s Restaurants had a net margin of 3.49% and a return on equity of 13.82%. The company had revenue of $355.40 million for the quarter, compared to analyst estimates of $353.71 million. During the same period in the previous year, the business posted $0.47 earnings per share. BJ’s Restaurants’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts anticipate that BJ’s Restaurants, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director C Bradford Richmond bought 1,200 shares of the stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $35.10 per share, for a total transaction of $42,120.00. Following the purchase, the director owned 16,700 shares of the company’s stock, valued at $586,170. This trade represents a 7.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian S. Krakower sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $35.03, for a total value of $91,078.00. Following the completion of the transaction, the executive vice president directly owned 5,062 shares in the company, valued at approximately $177,321.86. The trade was a 33.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 3,200 shares of company stock worth $110,670 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BJ’s Restaurants

Large investors have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of BJ’s Restaurants by 187.7% in the 4th quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 456 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 265 shares during the period. Quarry LP raised its holdings in BJ’s Restaurants by 1,618.3% during 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 in the last quarter. Kemnay Advisory Services Inc. purchased a new position in BJ’s Restaurants during the fourth quarter worth about $63,000. Finally, Ameritas Investment Partners Inc. lifted its position in BJ’s Restaurants by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator’s stock valued at $98,000 after purchasing an additional 334 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.