BJ’s Restaurants, Inc. (NASDAQ:BJRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “BJ’s Restaurants posted third-quarter fiscal 2017 adjusted earnings of 15 cents per share that fell short of the Zacks Consensus Estimate by 37.5%. Also, earnings declined 50% year over year due to increased expenses and adverse effects of the recent hurricanes. Revenues of $247 million were up 5.7% year over year given increase in total operating weeks but missed the consensus mark by 0.7%. Meanwhile, comps declined 1.7% in the quarter. Additionally, BJ’s Restaurants shares have underperformed the industry in the last six months. Nevertheless, the four strategic sales-building initiatives undertaken by the company are expected to boost the top line, going forward. Also, a deep pipeline of new menu items, loyalty program enhancements and other productivity and digital initiatives are likely to improve performance. Even so, higher costs, an uncertain sales environment and a slowdown in company’s development plan remain concerns.”

A number of other equities research analysts also recently issued reports on BJRI. Barclays PLC reduced their price target on shares of BJ’s Restaurants from $30.00 to $29.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 18th. Wells Fargo & Company reduced their price target on shares of BJ’s Restaurants from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 18th. Piper Jaffray Companies reissued a “hold” rating and issued a $44.00 price target on shares of BJ’s Restaurants in a research note on Friday, July 14th. Canaccord Genuity reduced their price target on shares of BJ’s Restaurants from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, Stifel Nicolaus assumed coverage on shares of BJ’s Restaurants in a research note on Monday, October 2nd. They issued a “hold” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. BJ’s Restaurants presently has a consensus rating of “Hold” and a consensus target price of $36.89.

BJ’s Restaurants (NASDAQ BJRI) traded up $0.43 during trading on Friday, hitting $31.08. 213,022 shares of the stock were exchanged, compared to its average volume of 447,686. The stock has a market cap of $630.35, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92. BJ’s Restaurants has a twelve month low of $28.00 and a twelve month high of $47.55. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 0.79.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $247.00 million during the quarter, compared to analysts’ expectations of $248.73 million. BJ’s Restaurants had a net margin of 3.30% and a return on equity of 13.85%. BJ’s Restaurants’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. equities research analysts forecast that BJ’s Restaurants will post 1.41 earnings per share for the current year.

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In other BJ’s Restaurants news, VP Gregory S. Lynds sold 3,621 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $30.48, for a total transaction of $110,368.08. Following the completion of the transaction, the vice president now owns 19,103 shares in the company, valued at approximately $582,259.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Walsh sold 37,764 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.59, for a total transaction of $1,192,964.76. Following the transaction, the director now owns 19,844 shares of the company’s stock, valued at approximately $626,871.96. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BJRI. State of Alaska Department of Revenue grew its holdings in BJ’s Restaurants by 77.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,557 shares of the restaurant operator’s stock worth $132,000 after acquiring an additional 1,557 shares in the last quarter. Victory Capital Management Inc. grew its holdings in BJ’s Restaurants by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,391 shares of the restaurant operator’s stock worth $164,000 after acquiring an additional 657 shares in the last quarter. SG Americas Securities LLC grew its holdings in BJ’s Restaurants by 20.8% during the 2nd quarter. SG Americas Securities LLC now owns 5,093 shares of the restaurant operator’s stock worth $190,000 after acquiring an additional 877 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in BJ’s Restaurants by 59.5% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the restaurant operator’s stock worth $214,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Pacad Investment Ltd. grew its holdings in BJ’s Restaurants by 1.8% during the 2nd quarter. Pacad Investment Ltd. now owns 5,800 shares of the restaurant operator’s stock worth $216,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 97.32% of the company’s stock.

About BJ’s Restaurants

BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.

Analyst Recommendations for BJ`s Restaurants (NASDAQ:BJRI)

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