BJ’s Restaurants (NASDAQ:BJRI) Reaches New 12-Month High – Still a Buy?

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.05 and last traded at $53.8740, with a volume of 106785 shares trading hands. The stock had previously closed at $51.78.

Analyst Ratings Changes

BJRI has been the topic of several recent research reports. Piper Sandler upped their price target on BJ’s Restaurants from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings cut BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup reduced their price target on BJ’s Restaurants from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Barclays reduced their price target on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 6th. Finally, DA Davidson initiated coverage on BJ’s Restaurants in a research note on Friday, March 6th. They issued a “neutral” rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.00.

BJ’s Restaurants Stock Up 4.1%

The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $42.11 and a 200 day simple moving average of $40.58. The firm has a market capitalization of $1.13 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.67 and a beta of 1.35.

BJ’s Restaurants (NASDAQ:BJRI) last released its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 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 during the quarter, compared to the consensus estimate of $356.97 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that BJ’s Restaurants, Inc. will post 2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other BJ’s Restaurants news, EVP Gregory S. Lynds sold 5,537 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.76, for a total value of $281,058.12. Following the sale, the executive vice president directly owned 46,474 shares of the company’s stock, valued at approximately $2,359,020.24. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kendra D. Miller sold 7,419 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $48.56, for a total value of $360,266.64. Following the completion of the sale, the executive vice president directly owned 28,599 shares in the company, valued at $1,388,767.44. This trade represents a 20.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,570 shares of company stock valued at $1,161,806. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On BJ’s Restaurants

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of BJ’s Restaurants by 187.7% during the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 456 shares during the last quarter. Quarry LP boosted its position in shares of BJ’s Restaurants by 1,618.3% during the third quarter. Quarry LP now owns 1,031 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 971 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of BJ’s Restaurants by 39.3% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 265 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of BJ’s Restaurants during the fourth quarter valued at $63,000. Finally, US Bancorp DE boosted its position in shares of BJ’s Restaurants by 14.5% during the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 418 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other 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.