BJ's Restaurants (NASDAQ:BJRI) had its price objective hoisted by investment analysts at Wedbush from $44.00 to $48.00 in a report issued on Friday. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s target price points to a potential upside of 24.03% from the stock’s previous close.
A number of other research analysts have also weighed in on BJRI. Barclays reduced their price target on BJ's Restaurants from $29.00 to $27.00 and set an “underweight” rating on the stock in a research note on Friday, October 27th. Canaccord Genuity reduced their price target on BJ's Restaurants from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Zacks Investment Research lowered BJ's Restaurants from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Finally, Stifel Nicolaus raised BJ's Restaurants from a “hold” rating to a “buy” rating and increased their price target for the stock from $32.00 to $44.00 in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. BJ's Restaurants has a consensus rating of “Hold” and a consensus price target of $39.78.
BJ's Restaurants (NASDAQ BJRI) traded up $0.15 during mid-day trading on Friday, reaching $38.70. The company had a trading volume of 464,300 shares, compared to its average volume of 366,750. BJ's Restaurants has a 12-month low of $28.00 and a 12-month high of $47.55. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market cap of $795.42, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.49 and a beta of 1.02.
In other news, Director Patrick Walsh sold 120,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $35.43, for a total transaction of $4,251,600.00. Following the completion of the sale, the director now directly owns 19,844 shares in the company, valued at $703,072.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory Levin sold 7,209 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $34.01, for a total value of $245,178.09. Following the sale, the chief financial officer now owns 45,672 shares of the company’s stock, valued at $1,553,304.72. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in BJ's Restaurants by 41.5% in the third quarter. Victory Capital Management Inc. now owns 6,214 shares of the restaurant operator’s stock worth $189,000 after purchasing an additional 1,823 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in BJ's Restaurants by 59.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the restaurant operator’s stock worth $214,000 after acquiring an additional 2,620 shares during the last quarter. Teacher Retirement System of Texas bought a new position in BJ's Restaurants in the fourth quarter worth about $230,000. Stone Ridge Asset Management LLC bought a new position in BJ's Restaurants in the fourth quarter worth about $255,000. Finally, Macquarie Group Ltd. bought a new position in BJ's Restaurants in the third quarter worth about $292,000. Institutional investors own 92.18% of the company’s stock.
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About BJ's Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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