BidaskClub Downgrades BJ’s Restaurants (BJRI) to Buy
BidaskClub cut shares of BJ’s Restaurants (NASDAQ:BJRI) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.
BJRI has been the subject of several other research reports. ValuEngine raised BJ’s Restaurants from a buy rating to a strong-buy rating in a research note on Saturday, July 28th. Zacks Investment Research raised BJ’s Restaurants from a hold rating to a buy rating and set a $70.00 target price for the company in a research note on Tuesday, July 17th. Maxim Group assumed coverage on BJ’s Restaurants in a research note on Wednesday, August 22nd. They set a buy rating and a $81.00 target price for the company. Stephens reaffirmed a buy rating and set a $70.00 target price on shares of BJ’s Restaurants in a research note on Friday, July 20th. Finally, Wedbush raised their target price on BJ’s Restaurants from $66.00 to $75.00 and gave the company an outperform rating in a research note on Friday, July 27th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $59.58.
Shares of BJRI stock opened at $70.75 on Friday. BJ’s Restaurants has a fifty-two week low of $29.40 and a fifty-two week high of $76.50. The stock has a market cap of $1.46 billion, a P/E ratio of 50.21, a PEG ratio of 2.15 and a beta of 0.73. The company has a quick ratio of 0.36, a current ratio of 0.44 and a debt-to-equity ratio of 0.37.
The business also recently declared a quarterly dividend, which was paid on Monday, August 27th. Investors of record on Monday, August 13th were given a $0.11 dividend. The ex-dividend date was Friday, August 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.62%. BJ’s Restaurants’s dividend payout ratio (DPR) is 31.21%.
In related news, VP Lon Ledwith sold 11,211 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $75.44, for a total value of $845,757.84. Following the completion of the transaction, the vice president now owns 10,913 shares in the company, valued at approximately $823,276.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg Trojan sold 67,401 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $74.89, for a total value of $5,047,660.89. Following the completion of the transaction, the chief executive officer now owns 64,783 shares of the company’s stock, valued at approximately $4,851,598.87. The disclosure for this sale can be found here. Insiders sold a total of 301,614 shares of company stock valued at $21,777,152 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BJRI. Cubist Systematic Strategies LLC acquired a new position in shares of BJ’s Restaurants in the 1st quarter valued at $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $230,000. Bessemer Group Inc. acquired a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $234,000. Teacher Retirement System of Texas acquired a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $249,000. Finally, SG Americas Securities LLC acquired a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $250,000. Institutional investors and hedge funds own 95.27% of the company’s stock.
About BJ’s Restaurants
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 September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 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, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.
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