BidaskClub cut shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
BJRI has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a hold rating and set a $35.00 target price on shares of BJ’s Restaurants in a report on Thursday, April 27th. Wedbush upgraded BJ’s Restaurants from an underperform rating to a neutral rating and raised their price objective for the stock from $31.50 to $41.00 in a research report on Thursday, April 20th. TheStreet lowered BJ’s Restaurants from a b rating to a c+ rating in a research report on Friday, July 7th. Finally, Canaccord Genuity restated a hold rating and set a $45.00 price objective on shares of BJ’s Restaurants in a research report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $38.56.
BJ’s Restaurants (NASDAQ BJRI) opened at 35.75 on Wednesday. The firm has a market capitalization of $770.70 million, a PE ratio of 19.50 and a beta of 1.10. The stock has a 50 day moving average of $42.24 and a 200-day moving average of $39.68. BJ’s Restaurants has a one year low of $32.24 and a one year high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last released its earnings results on Thursday, April 27th. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $257.80 million for the quarter, compared to analyst estimates of $255.66 million. BJ’s Restaurants had a return on equity of 14.86% and a net margin of 4.29%. BJ’s Restaurants’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities analysts predict that BJ’s Restaurants will post $1.80 EPS for the current year.
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BJ’s Restaurants announced that its board has authorized a share repurchase program on Thursday, April 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Larry D. Bouts sold 6,879 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $45.38, for a total transaction of $312,169.02. Following the completion of the sale, the director now owns 75,225 shares in the company, valued at $3,413,710.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alex Puchner sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $44.75, for a total value of $179,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,793 shares of company stock valued at $1,035,319. 6.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BJRI. Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of BJ’s Restaurants during the first quarter valued at about $102,000. State of Alaska Department of Revenue increased its stake in shares of BJ’s Restaurants by 77.9% in the second quarter. State of Alaska Department of Revenue now owns 3,557 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 1,557 shares during the period. Victory Capital Management Inc. increased its stake in shares of BJ’s Restaurants by 38.2% in the first quarter. Victory Capital Management Inc. now owns 3,734 shares of the restaurant operator’s stock valued at $151,000 after buying an additional 1,033 shares during the period. Mason Street Advisors LLC increased its stake in shares of BJ’s Restaurants by 0.6% in the first quarter. Mason Street Advisors LLC now owns 4,242 shares of the restaurant operator’s stock valued at $171,000 after buying an additional 24 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in shares of BJ’s Restaurants during the fourth quarter valued at about $233,000. Institutional investors and hedge funds own 94.46% of the company’s stock.
About BJ’s Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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