BJ’s Restaurants, Inc. (NASDAQ:BJRI – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $60.77 and last traded at $60.74, with a volume of 458055 shares. The stock had previously closed at $59.38.
Analysts Set New Price Targets
A number of brokerages have recently commented on BJRI. Citigroup dropped their price target on 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. Mizuho reduced their price objective on BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Barclays lowered their target price on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a report on Wednesday, May 6th. Benchmark increased their target price on BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, DA Davidson began coverage on BJ’s Restaurants in a research note on Friday, March 6th. They set a “neutral” rating and a $38.00 price target on the stock. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, BJ’s Restaurants has an average rating of “Hold” and an average price target of $42.00.
Check Out Our Latest Stock Analysis on BJRI
BJ’s Restaurants Trading Down 3.2%
BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company 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%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. Research analysts anticipate that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Gregory S. Lynds sold 6,201 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.86, for a total value of $346,387.86. Following the sale, the executive vice president directly owned 46,474 shares in the company, valued at $2,596,037.64. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the director owned 76,235 shares in the company, valued at $4,116,690. The trade was a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 63,817 shares of company stock valued at $3,384,688. Corporate insiders own 4.30% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its position in BJ’s Restaurants by 187.7% during the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 456 shares during the last quarter. Quarry LP lifted its stake in shares of BJ’s Restaurants by 1,618.3% in the 3rd quarter. Quarry LP now owns 1,031 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 971 shares during the period. GAMMA Investing LLC boosted its position in shares of BJ’s Restaurants by 39.3% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 265 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of BJ’s Restaurants during the 4th quarter valued at about $63,000. Finally, US Bancorp DE boosted its position in shares of BJ’s Restaurants by 14.5% during the 3rd quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock valued at $101,000 after purchasing an additional 418 shares in the last quarter. 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.
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