BJ’s Restaurants (NASDAQ:BJRI) Hits New 1-Year High – What’s Next?

BJ’s Restaurants, Inc. (NASDAQ:BJRI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $56.40 and last traded at $56.33, with a volume of 338400 shares traded. The stock had previously closed at $54.62.

Wall Street Analyst Weigh In

BJRI has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Citigroup decreased their price target on shares of BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Benchmark lifted their price target 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. Weiss Ratings lowered shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Mizuho cut their price objective on shares of BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Trading Up 6.3%

The company has a market cap of $1.26 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.82 and a beta of 1.35. The stock’s 50-day moving average is $44.89 and its two-hundred day moving average is $41.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.25.

BJ’s Restaurants (NASDAQ:BJRI) last released 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 firm had revenue of $358.12 million for 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 company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts predict that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Gregory S. Lynds sold 6,201 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.86, for a total value of $346,387.86. Following the completion of the transaction, the executive vice president directly owned 46,474 shares of the company’s stock, valued at approximately $2,596,037.64. This trade represents a 11.77% decrease in their ownership of the stock. The transaction 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 company’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 value of $251,208.00. Following the sale, the director owned 76,235 shares in the company, valued at approximately $4,116,690. This trade 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 ninety days, insiders sold 63,817 shares of company stock valued at $3,384,688. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On BJ’s Restaurants

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of BJ’s Restaurants by 23.5% during the third quarter. Vanguard Group Inc. now owns 3,362,763 shares of the restaurant operator’s stock worth $102,665,000 after acquiring an additional 640,648 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in BJ’s Restaurants in the 3rd quarter worth approximately $1,662,000. American Century Companies Inc. boosted its stake in BJ’s Restaurants by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 886,918 shares of the restaurant operator’s stock worth $27,078,000 after purchasing an additional 62,321 shares in the last quarter. Legato Capital Management LLC purchased a new stake in BJ’s Restaurants during the 4th quarter worth approximately $1,148,000. Finally, Cramer Rosenthal Mcglynn LLC grew its position in BJ’s Restaurants by 50.0% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 411,750 shares of the restaurant operator’s stock worth $12,571,000 after purchasing an additional 137,283 shares during the last quarter. 99.95% of the stock is currently 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.