ValuEngine Downgrades BJ’s Restaurants (BJRI) to Buy

ValuEngine lowered shares of BJ’s Restaurants (NASDAQ:BJRI) from a strong-buy rating to a buy rating in a research report sent to investors on Friday, November 2nd.

A number of other equities research analysts have also recently commented on BJRI. Maxim Group started coverage on BJ’s Restaurants in a research note on Wednesday, August 22nd. They set a buy rating and a $81.00 target price on the stock. Piper Jaffray Companies raised BJ’s Restaurants from a neutral rating to an overweight rating in a report on Friday, October 5th. Morgan Stanley boosted their target price on BJ’s Restaurants from $57.00 to $61.00 and gave the stock an equal weight rating in a research report on Thursday, October 18th. Gordon Haskett began coverage on BJ’s Restaurants in a report on Thursday, October 18th. They set an underperform rating for the company. Finally, BidaskClub raised BJ’s Restaurants from a hold rating to a buy rating in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. BJ’s Restaurants currently has an average rating of Hold and a consensus price target of $66.75.

NASDAQ BJRI traded down $0.55 during trading hours on Friday, reaching $65.96. The company’s stock had a trading volume of 404,831 shares, compared to its average volume of 570,547. The firm has a market cap of $1.39 billion, a PE ratio of 46.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. BJ’s Restaurants has a 52 week low of $30.45 and a 52 week high of $76.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.49 and a quick ratio of 0.36.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.39 EPS for the quarter, topping the consensus estimate of $0.23 by $0.16. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. The company had revenue of $270.27 million during the quarter, compared to the consensus estimate of $262.89 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that BJ’s Restaurants will post 2.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 8th. This is an increase from BJ’s Restaurants’s previous quarterly dividend of $0.11. BJ’s Restaurants’s payout ratio is presently 31.21%.

In other news, insider Brian S. Krakower sold 2,685 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $74.67, for a total transaction of $200,488.95. Following the completion of the transaction, the insider now directly owns 4,303 shares in the company, valued at $321,305.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Greg Trojan sold 26,979 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $74.65, for a total value of $2,013,982.35. Following the completion of the sale, the chief executive officer now owns 66,783 shares in the company, valued at $4,985,350.95. The disclosure for this sale can be found here. In the last three months, insiders sold 301,210 shares of company stock valued at $21,785,835. Insiders own 6.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its holdings in BJ’s Restaurants by 34.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 86,200 shares of the restaurant operator’s stock valued at $6,224,000 after purchasing an additional 22,200 shares in the last quarter. Trexquant Investment LP raised its position in shares of BJ’s Restaurants by 37.5% during the 3rd quarter. Trexquant Investment LP now owns 9,696 shares of the restaurant operator’s stock worth $700,000 after purchasing an additional 2,646 shares during the last quarter. American International Group Inc. raised its position in shares of BJ’s Restaurants by 5.2% during the 3rd quarter. American International Group Inc. now owns 16,275 shares of the restaurant operator’s stock worth $1,175,000 after purchasing an additional 808 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of BJ’s Restaurants by 113.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,813 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 963 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of BJ’s Restaurants by 13.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 338,627 shares of the restaurant operator’s stock worth $24,449,000 after purchasing an additional 39,462 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

BJ’s Restaurants Company Profile

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

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