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

BJ’s Restaurants, Inc. (NASDAQ:BJRIGet Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.67 and traded as high as $42.38. BJ’s Restaurants shares last traded at $41.42, with a volume of 286,539 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings downgraded BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Mizuho decreased their price objective on shares of 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. DA Davidson started coverage on shares of BJ’s Restaurants in a research note on Friday, March 6th. They issued a “neutral” rating and a $38.00 target price on the stock. Piper Sandler increased their price objective on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Barclays dropped their price objective on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.00.

Get Our Latest Report on BJRI

BJ’s Restaurants Stock Down 1.6%

The firm’s fifty day moving average price is $37.03 and its 200-day moving average price is $38.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.25. The firm has a market capitalization of $870.65 million, a P/E ratio of 20.92, a PEG ratio of 1.36 and a beta of 1.29.

BJ’s Restaurants (NASDAQ:BJRIGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $358.12 million during 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 was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. As a group, equities research analysts forecast that BJ’s Restaurants, Inc. will post 2.2 earnings per share for the current year.

Insider Activity at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 2,600 shares of the firm’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 owned 5,062 shares of the company’s stock, valued at approximately $177,321.86. This trade represents a 33.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Bradford Richmond acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $35.10 per share, with a total value of $42,120.00. Following the purchase, the director directly owned 16,700 shares in the company, valued at approximately $586,170. This trade represents a 7.74% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 3,200 shares of company stock worth $110,670. 4.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BJ’s Restaurants

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BJRI. AQR Capital Management LLC lifted its position in BJ’s Restaurants by 15.6% in the 1st quarter. AQR Capital Management LLC now owns 37,189 shares of the restaurant operator’s stock worth $1,274,000 after buying an additional 5,013 shares in the last quarter. Caxton Associates LLP acquired a new position in BJ’s Restaurants in the 1st quarter valued at $291,000. Russell Investments Group Ltd. grew its stake in BJ’s Restaurants by 29.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 17,662 shares of the restaurant operator’s stock valued at $788,000 after buying an additional 4,045 shares during the last quarter. Invesco Ltd. grew its position in BJ’s Restaurants by 22.5% in the 2nd quarter. Invesco Ltd. now owns 291,957 shares of the restaurant operator’s stock worth $13,021,000 after purchasing an additional 53,574 shares during the last quarter. Finally, First Trust Advisors LP grew its position in BJ’s Restaurants by 0.9% in the 2nd quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator’s stock worth $3,194,000 after purchasing an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

BJ’s Restaurants Company Profile

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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.

Further Reading

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