BJ’s Restaurants (NASDAQ:BJRI) Hits New 52-Week High – Still a Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares hit a new 52-week high on Thursday . The company traded as high as $47.03 and last traded at $46.8550, with a volume of 152084 shares traded. The stock had previously closed at $46.26.

Analysts Set New Price Targets

BJRI has been the topic of several analyst reports. Citigroup dropped their price target on shares of BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Barclays cut their target price on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings downgraded BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Benchmark upped their price objective on BJ’s Restaurants from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Mizuho cut their price objective on BJ’s Restaurants from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, BJ’s Restaurants has a consensus rating of “Hold” and a consensus target price of $42.00.

BJ’s Restaurants Stock Performance

The firm has a market cap of $988.99 million, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $39.33 and its 200 day moving average is $39.64.

BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings data on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). BJ’s Restaurants had a return on equity of 13.48% and a net margin of 3.15%.The company had revenue of $358.12 million for the quarter, compared to analyst estimates of $356.97 million. During the same quarter last year, the business earned $0.59 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that BJ’s Restaurants, Inc. will post 2.21 earnings per share for the current year.

Insider Activity at BJ’s Restaurants

In other news, Director C Bradford Richmond purchased 1,000 shares of BJ’s Restaurants stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $34.05 per share, for a total transaction of $34,050.00. Following the purchase, the director directly owned 18,700 shares of the company’s stock, valued at $636,735. This trade represents a 5.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian S. Krakower sold 2,600 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $35.03, for a total value of $91,078.00. Following the transaction, the executive vice president owned 5,062 shares in the company, valued at $177,321.86. The trade was a 33.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 3,200 shares of company stock valued at $110,670. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BJ’s Restaurants

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in BJ’s Restaurants by 73.5% in the 1st quarter. Bank of America Corp DE now owns 324,588 shares of the restaurant operator’s stock worth $11,393,000 after purchasing an additional 137,511 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of BJ’s Restaurants by 31.7% during the first quarter. California State Teachers Retirement System now owns 19,737 shares of the restaurant operator’s stock worth $693,000 after purchasing an additional 4,746 shares during the period. Royal Bank of Canada increased its holdings in shares of BJ’s Restaurants by 238.0% during the first quarter. Royal Bank of Canada now owns 16,272 shares of the restaurant operator’s stock worth $572,000 after purchasing an additional 11,458 shares during the period. Empowered Funds LLC raised its position in shares of BJ’s Restaurants by 7.1% in the first quarter. Empowered Funds LLC now owns 107,143 shares of the restaurant operator’s stock valued at $3,761,000 after buying an additional 7,080 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of BJ’s Restaurants by 7.7% in the first quarter. Quantinno Capital Management LP now owns 16,561 shares of the restaurant operator’s stock valued at $581,000 after buying an additional 1,178 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

About BJ’s Restaurants

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.