BJ’s Restaurants (NASDAQ:BJRI) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of BJ’s Restaurants (NASDAQ:BJRI) in a report released on Tuesday, Benzinga reports. They currently have a $43.00 price target on the restaurant operator’s stock. Wedbush also issued estimates for BJ’s Restaurants’ FY2024 earnings at $1.50 EPS, Q4 2025 earnings at $0.51 EPS and FY2025 earnings at $1.87 EPS.

BJRI has been the subject of several other reports. Benchmark lifted their target price on shares of BJ’s Restaurants from $41.00 to $45.00 and gave the company a buy rating in a research report on Friday, May 3rd. Barclays lifted their target price on shares of BJ’s Restaurants from $33.00 to $36.00 and gave the company an underweight rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $38.60.

BJ’s Restaurants Price Performance

Shares of NASDAQ:BJRI opened at $36.33 on Tuesday. The company has a 50 day moving average of $34.80 and a 200 day moving average of $34.60. The stock has a market cap of $849.40 million, a P/E ratio of 36.33, a P/E/G ratio of 1.88 and a beta of 2.13. BJ’s Restaurants has a 12 month low of $21.64 and a 12 month high of $38.76. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.15.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.17. BJ’s Restaurants had a net margin of 1.80% and a return on equity of 6.51%. The business had revenue of $337.33 million during the quarter, compared to analyst estimates of $335.35 million. During the same period in the previous year, the business posted $0.15 earnings per share. BJ’s Restaurants’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that BJ’s Restaurants will post 1.36 EPS for the current fiscal year.

Insider Transactions at BJ’s Restaurants

In other news, insider Brian S. Krakower sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.56, for a total value of $56,896.00. Following the completion of the sale, the insider now directly owns 7,652 shares in the company, valued at approximately $272,105.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of BJ’s Restaurants by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,021 shares of the restaurant operator’s stock worth $689,000 after buying an additional 936 shares during the period. EntryPoint Capital LLC purchased a new position in BJ’s Restaurants during the 1st quarter valued at $45,000. Boulder Hill Capital Management LP purchased a new position in BJ’s Restaurants during the 1st quarter valued at $814,000. CANADA LIFE ASSURANCE Co increased its position in BJ’s Restaurants by 12.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 20,235 shares of the restaurant operator’s stock valued at $731,000 after purchasing an additional 2,286 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in BJ’s Restaurants by 61.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,499 shares of the restaurant operator’s stock valued at $380,000 after purchasing an additional 4,000 shares during the period. 99.95% of the stock is 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. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ's Restaurants, Inc in August 2004.