BJ’s Restaurants (NASDAQ:BJRI) Price Target Raised to $59.00 at Morgan Stanley


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BJ’s Restaurants (NASDAQ:BJRI) had its price target raised by equities research analysts at Morgan Stanley from $54.00 to $59.00 in a report issued on Monday, PriceTargets.com reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective points to a potential upside of 3.33% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of BJ’s Restaurants from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Thursday, January 7th. Loop Capital raised their price objective on BJ’s Restaurants from $36.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, February 16th. Stephens boosted their price objective on BJ’s Restaurants from $46.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. Oppenheimer increased their target price on BJ’s Restaurants from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, March 5th. Finally, Barclays boosted their price target on BJ’s Restaurants from $32.00 to $36.00 in a report on Friday, February 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.18.

NASDAQ:BJRI traded down $3.32 during trading hours on Monday, hitting $57.10. The company’s stock had a trading volume of 5,649 shares, compared to its average volume of 307,251. BJ’s Restaurants has a twelve month low of $15.43 and a twelve month high of $63.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.51. The stock has a fifty day simple moving average of $59.13 and a 200-day simple moving average of $44.89. The company has a market capitalization of $1.32 billion, a P/E ratio of -49.03, a PEG ratio of 16.46 and a beta of 2.17.

BJ’s Restaurants (NASDAQ:BJRI) last posted its earnings results on Wednesday, April 21st. The restaurant operator reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.52. BJ’s Restaurants had a negative net margin of 2.90% and a negative return on equity of 7.46%. The firm had revenue of $223.31 million during the quarter, compared to analysts’ expectations of $202.45 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, equities analysts predict that BJ’s Restaurants will post -2.03 EPS for the current fiscal year.

In other news, Director Larry D. Bouts sold 10,000 shares of BJ’s Restaurants stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $50.54, for a total value of $505,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lea Anne Ottinger sold 1,391 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $59.00, for a total value of $82,069.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,554 shares of company stock valued at $3,288,875. Company insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BJRI. Oregon Public Employees Retirement Fund grew its position in shares of BJ’s Restaurants by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,107 shares of the restaurant operator’s stock worth $529,000 after buying an additional 200 shares during the period. NEXT Financial Group Inc boosted its stake in BJ’s Restaurants by 1,298.0% during the first quarter. NEXT Financial Group Inc now owns 2,796 shares of the restaurant operator’s stock worth $162,000 after acquiring an additional 2,596 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in BJ’s Restaurants by 1.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the restaurant operator’s stock worth $610,000 after acquiring an additional 200 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in BJ’s Restaurants in the fourth quarter worth $292,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in BJ’s Restaurants by 182.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 19,206 shares of the restaurant operator’s stock valued at $739,000 after purchasing an additional 12,400 shares in the last quarter. 96.44% 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 December 29, 2020, the company operated 210 casual dining restaurants in 29 states.

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

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