Barclays Issues Positive Forecast for BJ’s Restaurants (NASDAQ:BJRI) Stock Price

BJ’s Restaurants (NASDAQ:BJRI) had its target price increased by research analysts at Barclays from $39.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the restaurant operator’s stock. Barclays‘s price target indicates a potential upside of 0.89% from the company’s previous close.

Other analysts have also issued reports about the stock. Mizuho upped 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. Jefferies Financial Group reissued a “buy” rating and issued a $50.00 price target on shares of BJ’s Restaurants in a research note on Friday, October 31st. Benchmark boosted 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. Sanford C. Bernstein reissued an “underweight” rating and issued a $30.00 price target on shares of BJ’s Restaurants in a research report on Friday, October 31st. Finally, Wall Street Zen cut BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Stock Performance

BJ’s Restaurants stock traded up $0.75 during mid-day trading on Thursday, reaching $41.63. The company’s stock had a trading volume of 66,639 shares, compared to its average volume of 325,596. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. BJ’s Restaurants has a twelve month low of $28.46 and a twelve month high of $47.02. The business has a 50 day moving average price of $42.30 and a 200-day moving average price of $36.87. The firm has a market cap of $880.02 million, a price-to-earnings ratio of 30.78, a PEG ratio of 1.27 and a beta of 1.33.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Wednesday, February 25th. The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $355.40 million during the quarter, compared to the consensus estimate of $353.71 million. BJ’s Restaurants had a net margin of 2.23% and a return on equity of 12.92%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. Sell-side analysts predict that BJ’s Restaurants will post 1.5 EPS for the current fiscal year.

BJ’s Restaurants announced that its Board of Directors has approved a share repurchase program on Thursday, October 30th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 11.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 8,017 shares of BJ’s Restaurants stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $39.61, for a total value of $317,553.37. Following the sale, the executive vice president owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. The trade was a 64.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in BJ’s Restaurants by 187.7% in the 4th quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 456 shares during the period. GAMMA Investing LLC boosted its position in BJ’s Restaurants by 39.3% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock worth $37,000 after buying an additional 265 shares during the period. Quarry LP increased its holdings in BJ’s Restaurants by 1,618.3% in the third 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. Kemnay Advisory Services Inc. bought a new position in BJ’s Restaurants during the 4th quarter worth $63,000. Finally, Ameritas Investment Partners Inc. raised its holdings in BJ’s Restaurants by 18.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator’s stock worth $98,000 after purchasing an additional 334 shares during the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

About BJ’s Restaurants

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.