BJ’s Restaurants (NASDAQ:BJRI) Sets New 52-Week High – What’s Next?

BJ’s Restaurants, Inc. (NASDAQ:BJRI)’s share price reached a new 52-week high on Wednesday . The company traded as high as $54.05 and last traded at $53.8740, with a volume of 106785 shares. The stock had previously closed at $51.78.

Analyst Ratings Changes

Several analysts have recently issued reports on BJRI shares. Benchmark upped their target price on shares of BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Citigroup reduced their price objective on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Mizuho decreased 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. DA Davidson started coverage on BJ’s Restaurants in a research note on Friday, March 6th. They issued a “neutral” rating and a $38.00 price objective for the company. Finally, Weiss Ratings cut BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, BJ’s Restaurants presently has a consensus rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Stock Performance

The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $42.77 and its 200 day moving average is $40.79. The stock has a market capitalization of $1.15 billion, a PE ratio of 27.55, a PEG ratio of 1.70 and a beta of 1.35.

BJ’s Restaurants (NASDAQ:BJRI) 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 firm had revenue of $358.12 million during the quarter, compared to analysts’ expectations of $356.97 million. BJ’s Restaurants had a return on equity of 13.48% and a net margin of 3.15%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, equities research analysts predict that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at BJ’s Restaurants

In other news, EVP Gregory S. Lynds sold 5,537 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.76, for a total value of $281,058.12. Following the sale, the executive vice president directly owned 46,474 shares in the company, valued at approximately $2,359,020.24. This represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kendra D. Miller sold 7,419 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $48.56, for a total value of $360,266.64. Following the transaction, the executive vice president owned 28,599 shares of the company’s stock, valued at approximately $1,388,767.44. The trade was a 20.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,570 shares of company stock valued at $1,161,806. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BJRI. Jupiter Asset Management Ltd. purchased a new stake in shares of BJ’s Restaurants in the third quarter valued at approximately $2,514,000. Envestnet Asset Management Inc. purchased a new position in BJ’s Restaurants during the 3rd quarter worth $1,662,000. Vanguard Group Inc. increased its holdings in BJ’s Restaurants by 23.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,362,763 shares of the restaurant operator’s stock worth $102,665,000 after purchasing an additional 640,648 shares during the period. American Century Companies Inc. raised its position in BJ’s Restaurants by 7.6% during the 3rd quarter. American Century Companies Inc. now owns 886,918 shares of the restaurant operator’s stock valued at $27,078,000 after purchasing an additional 62,321 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in BJ’s Restaurants by 50.0% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 411,750 shares of the restaurant operator’s stock valued at $12,571,000 after purchasing an additional 137,283 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors.

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.