BJ’s Restaurants (NASDAQ:BJRI) Shares Up 11.4%

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares shot up 11.4% during trading on Wednesday . The stock traded as high as $25.03 and last traded at $24.70, 832,118 shares changed hands during mid-day trading. An increase of 10% from the average session volume of 757,987 shares. The stock had previously closed at $22.18.

Several brokerages recently commented on BJRI. Loop Capital dropped their target price on shares of BJ’s Restaurants from $46.00 to $30.00 in a report on Monday, May 11th. Deutsche Bank lifted their target price on shares of BJ’s Restaurants from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, May 11th. BidaskClub downgraded shares of BJ’s Restaurants from a “hold” rating to a “sell” rating in a report on Tuesday, March 10th. Piper Sandler dropped their target price on shares of BJ’s Restaurants from $46.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Finally, Wedbush dropped their target price on shares of BJ’s Restaurants from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.94.

The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.81. The firm’s 50-day moving average price is $19.03 and its two-hundred day moving average price is $29.77. The firm has a market capitalization of $485.30 million, a price-to-earnings ratio of 17.72 and a beta of 1.87.

BJ’s Restaurants (NASDAQ:BJRI) last issued its earnings results on Thursday, May 7th. The restaurant operator reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.28. BJ’s Restaurants had a net margin of 2.50% and a return on equity of 8.96%. The business had revenue of $254.60 million for the quarter, compared to analyst estimates of $258.43 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue was down 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that BJ’s Restaurants, Inc. will post -2.74 EPS for the current year.

In other BJ’s Restaurants news, Director Noah A. Elbogen bought 15,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $29.32 per share, for a total transaction of $439,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in BJ’s Restaurants by 13.9% in the first quarter. State Street Corp now owns 673,367 shares of the restaurant operator’s stock valued at $9,353,000 after buying an additional 82,160 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in BJ’s Restaurants in the first quarter valued at about $6,851,000. FMR LLC boosted its position in BJ’s Restaurants by 16.2% in the first quarter. FMR LLC now owns 488,738 shares of the restaurant operator’s stock valued at $23,107,000 after buying an additional 68,138 shares in the last quarter. Norges Bank acquired a new position in BJ’s Restaurants in the fourth quarter valued at about $13,680,000. Finally, HighTower Advisors LLC acquired a new position in BJ’s Restaurants in the first quarter valued at about $4,737,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

BJ’s Restaurants Company Profile (NASDAQ:BJRI)

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.

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