DA Davidson Begins Coverage on BJ’s Restaurants (NASDAQ:BJRI)

Investment analysts at DA Davidson started coverage on shares of BJ’s Restaurants (NASDAQ:BJRI) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set a “neutral” rating and a $38.00 price target on the restaurant operator’s stock. DA Davidson’s price objective would indicate a potential upside of 6.06% from the company’s previous close.

A number of other brokerages also recently issued reports on BJRI. Citigroup increased their price objective on BJ’s Restaurants from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Barclays raised their price target on BJ’s Restaurants from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, February 26th. Wall Street Zen lowered BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Benchmark raised their target price on shares of BJ’s Restaurants from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Mizuho boosted their price target on shares of BJ’s Restaurants from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.38.

BJ’s Restaurants Trading Up 1.9%

Shares of BJ’s Restaurants stock opened at $35.83 on Friday. The company’s 50-day moving average price is $41.79 and its 200-day moving average price is $36.94. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. BJ’s Restaurants has a 12-month low of $28.46 and a 12-month high of $47.02. The company has a market cap of $759.60 million, a price-to-earnings ratio of 16.67, a PEG ratio of 1.12 and a beta of 1.32.

BJ’s Restaurants (NASDAQ:BJRI) last posted its earnings results on Wednesday, February 25th. The restaurant operator reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. BJ’s Restaurants had a net margin of 3.49% and a return on equity of 13.82%. The business had revenue of $355.40 million for the quarter, compared to analyst estimates of $353.71 million. During the same quarter in the prior year, the firm posted $0.47 EPS. BJ’s Restaurants’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that BJ’s Restaurants will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brian S. Krakower sold 8,017 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $39.61, for a total value of $317,553.37. Following the completion of the sale, the executive vice president owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. This represents a 64.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Bradford Richmond bought 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of $35.10 per share, for a total transaction of $42,120.00. Following the transaction, the director owned 16,700 shares in the company, valued at $586,170. This trade represents a 7.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On BJ’s Restaurants

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its position in BJ’s Restaurants by 576.9% in the third quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator’s stock valued at $44,326,000 after purchasing an additional 1,237,383 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of BJ’s Restaurants by 23.5% in the third quarter. Vanguard Group Inc. now owns 3,362,763 shares of the restaurant operator’s stock worth $102,665,000 after buying an additional 640,648 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in BJ’s Restaurants by 233.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 628,445 shares of the restaurant operator’s stock valued at $28,029,000 after buying an additional 440,078 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in BJ’s Restaurants during the 2nd quarter valued at $13,380,000. Finally, Balyasny Asset Management L.P. purchased a new stake in BJ’s Restaurants during the 4th quarter valued at $10,863,000. 99.95% of the stock is currently owned by 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.