BJ’s Restaurants (NASDAQ:BJRI) Sets New 1-Year High – Still a Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.03 and last traded at $46.8550, with a volume of 152084 shares. The stock had previously closed at $46.26.

Analysts Set New Price Targets

BJRI has been the subject of several research analyst reports. Benchmark increased their price objective on BJ’s Restaurants from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citigroup cut their price objective on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. DA Davidson initiated coverage on BJ’s Restaurants in a research report on Friday, March 6th. They issued a “neutral” rating and a $38.00 price objective for the company. Weiss Ratings cut BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Mizuho cut their price objective on BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Two equities 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 stock. According to data from MarketBeat, BJ’s Restaurants has a consensus rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Stock Performance

The stock has a market capitalization of $981.70 million, a price-to-earnings ratio of 23.58, a PEG ratio of 1.46 and a beta of 1.29. The stock’s 50 day moving average is $38.85 and its 200 day moving average is $39.50. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17.

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

Insider Transactions at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 2,600 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $35.03, for a total value of $91,078.00. Following the sale, the executive vice president directly owned 5,062 shares of the company’s stock, valued at approximately $177,321.86. This represents a 33.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Bradford Richmond acquired 1,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $34.05 per share, for a total transaction of $34,050.00. Following the completion of the purchase, the director owned 18,700 shares in the company, valued at $636,735. The trade was a 5.65% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 3,200 shares of company stock worth $110,670. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of BJ’s Restaurants

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in BJ’s Restaurants by 187.7% during the 4th 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. Quarry LP increased its position in BJ’s Restaurants by 1,618.3% during the 3rd 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. GAMMA Investing LLC increased its position in BJ’s Restaurants by 39.3% during the 4th 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. Kemnay Advisory Services Inc. purchased a new stake in BJ’s Restaurants during the 4th quarter worth about $63,000. Finally, US Bancorp DE increased its position in BJ’s Restaurants by 14.5% during the 3rd 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. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.