Barclays Trims BJ’s Restaurants (BJRI) Target Price to $53.00

BJ’s Restaurants (NASDAQ:BJRI) had its target price trimmed by Barclays from $59.00 to $53.00 in a research report released on Thursday. The firm currently has an underweight rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the stock. Maxim Group reiterated a buy rating and issued a $81.00 price objective on shares of BJ’s Restaurants in a report on Wednesday, October 24th. BidaskClub cut shares of BJ’s Restaurants from a strong-buy rating to a buy rating in a report on Saturday, September 22nd. Zacks Investment Research upgraded shares of BJ’s Restaurants from a hold rating to a buy rating and set a $79.00 price objective for the company in a report on Wednesday, September 26th. Wells Fargo & Co upped their price target on shares of BJ’s Restaurants from $58.00 to $59.00 and gave the company a market perform rating in a report on Wednesday, October 31st. Finally, ValuEngine cut shares of BJ’s Restaurants from a strong-buy rating to a buy rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. BJ’s Restaurants currently has a consensus rating of Hold and an average price target of $64.67.

Shares of NASDAQ:BJRI opened at $54.32 on Thursday. The firm has a market capitalization of $1.16 billion, a P/E ratio of 38.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. BJ’s Restaurants has a 1 year low of $34.75 and a 1 year high of $76.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.49 and a quick ratio of 0.41.

BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.16. The firm had revenue of $270.27 million during the quarter, compared to analysts’ expectations of $262.89 million. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. BJ’s Restaurants’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. As a group, equities analysts anticipate that BJ’s Restaurants will post 2.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 26th. Shareholders of record on Monday, November 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.88%. This is a boost from BJ’s Restaurants’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, November 8th. BJ’s Restaurants’s dividend payout ratio is 34.04%.

In other BJ’s Restaurants news, Director Noah A. Elbogen sold 888 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $76.05, for a total transaction of $67,532.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kendra D. Miller sold 11,524 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $66.17, for a total transaction of $762,543.08. Following the sale, the vice president now owns 8,909 shares of the company’s stock, valued at $589,508.53. The disclosure for this sale can be found here. Insiders have sold 111,508 shares of company stock valued at $8,214,117 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC bought a new stake in BJ’s Restaurants during the third quarter valued at about $3,310,000. Vanguard Group Inc. raised its position in shares of BJ’s Restaurants by 21.0% during the third quarter. Vanguard Group Inc. now owns 2,557,469 shares of the restaurant operator’s stock valued at $184,650,000 after buying an additional 443,322 shares during the last quarter. Morgan Stanley raised its position in shares of BJ’s Restaurants by 409.1% during the third quarter. Morgan Stanley now owns 352,580 shares of the restaurant operator’s stock valued at $25,456,000 after buying an additional 283,324 shares during the last quarter. Legal & General Group Plc raised its position in shares of BJ’s Restaurants by 21.7% during the third quarter. Legal & General Group Plc now owns 49,961 shares of the restaurant operator’s stock valued at $3,600,000 after buying an additional 8,909 shares during the last quarter. Finally, Kepos Capital LP acquired a new position in shares of BJ’s Restaurants during the third quarter valued at about $1,257,000.

About BJ’s Restaurants

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. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

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Analyst Recommendations for BJ`s Restaurants (NASDAQ:BJRI)

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