Brokerages Set BJ’s Restaurants, Inc. (NASDAQ:BJRI) Price Target at $38.00

BJ’s Restaurants, Inc. (NASDAQ:BJRI) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.00.

Several analysts have recently commented on BJRI shares. Oppenheimer lowered BJ’s Restaurants from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 7th. Gordon Haskett upgraded BJ’s Restaurants from an “underperform” rating to a “hold” rating and set a $36.00 price target for the company in a research note on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of BJ’s Restaurants in a report on Friday, November 1st. Barclays increased their price objective on BJ’s Restaurants from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, January 7th. Finally, Piper Sandler lifted their target price on BJ’s Restaurants from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Insider Activity

In related news, insider Brian S. Krakower sold 2,313 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $35.60, for a total value of $82,342.80. Following the completion of the transaction, the insider now directly owns 5,339 shares in the company, valued at $190,068.40. The trade was a 30.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On BJ’s Restaurants

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in BJ’s Restaurants by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,284 shares of the restaurant operator’s stock worth $888,000 after purchasing an additional 1,823 shares during the period. Geode Capital Management LLC increased its position in shares of BJ’s Restaurants by 1.0% in the third quarter. Geode Capital Management LLC now owns 493,006 shares of the restaurant operator’s stock valued at $16,056,000 after buying an additional 5,075 shares in the last quarter. Jane Street Group LLC raised its stake in shares of BJ’s Restaurants by 10.4% during the 3rd quarter. Jane Street Group LLC now owns 131,876 shares of the restaurant operator’s stock worth $4,294,000 after buying an additional 12,432 shares during the period. Quarry LP lifted its position in shares of BJ’s Restaurants by 764.9% during the 3rd quarter. Quarry LP now owns 813 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 719 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in BJ’s Restaurants in the 3rd quarter valued at $254,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

BJ’s Restaurants Price Performance

Shares of BJRI opened at $34.28 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.35. The company has a 50 day moving average price of $35.80 and a 200-day moving average price of $33.98. BJ’s Restaurants has a fifty-two week low of $27.61 and a fifty-two week high of $38.87. The stock has a market capitalization of $782.17 million, a PE ratio of 27.42, a PEG ratio of 2.06 and a beta of 2.10.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings results on Thursday, October 31st. The restaurant operator reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.15). BJ’s Restaurants had a net margin of 2.24% and a return on equity of 7.98%. The firm had revenue of $325.70 million for the quarter, compared to analysts’ expectations of $324.97 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that BJ’s Restaurants will post 1.26 earnings per share for the current fiscal year.

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 under brand name Pizookie. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ’s Restaurants, Inc in August 2004.