BJ’s Restaurants’ (BJRI) Buy Rating Reaffirmed at Maxim Group

BJ’s Restaurants (NASDAQ:BJRI)‘s stock had its “buy” rating restated by analysts at Maxim Group in a research note issued to investors on Wednesday. They currently have a $84.00 price objective on the restaurant operator’s stock. Maxim Group’s price target indicates a potential upside of 61.45% from the stock’s previous close.

The analysts wrote, “We maintain our Buy rating and $84 price target on BJ’s Restaurants (BJRI) ahead of the release of 4Q18 (December) results on the close. We maintain our Street-high 4Q18 EPS estimate of $0.60, vs. $0.50 consensus, based on our upwardly revised +5.0% comp estimate vs. +4.4% consensus. We raise our 2019 EPS estimate to $2.84, from $2.76 (vs. $2.48 consensus) as we increase our full-year comp estimate to +3.0%, from +2.7% (vs. +2.6% consensus). We expect BJRI’s “Project Q,” a continuous operations improvement program, as well as benign commodity costs, to be key drivers of margin expansion.””

A number of other equities research analysts have also recently issued reports on the stock. Gordon Haskett initiated coverage on shares of BJ’s Restaurants in a research report on Thursday, October 18th. They set an “underperform” rating for the company. Morgan Stanley increased their target price on shares of BJ’s Restaurants from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 18th. Loop Capital initiated coverage on shares of BJ’s Restaurants in a research report on Wednesday, October 24th. They set a “hold” rating and a $70.00 target price for the company. Stifel Nicolaus cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $70.00 in a research report on Tuesday, October 23rd. Finally, Wedbush reiterated a “buy” rating and set a $75.00 target price on shares of BJ’s Restaurants in a research report on Monday, December 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.25.

Shares of BJ’s Restaurants stock opened at $52.03 on Wednesday. The stock has a market cap of $1.07 billion, a P/E ratio of 36.90, a PEG ratio of 1.44 and a beta of 0.81. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.30. BJ’s Restaurants has a 12-month low of $36.15 and a 12-month high of $76.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC acquired a new stake in BJ’s Restaurants in the 4th quarter valued at about $72,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in BJ’s Restaurants by 29.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,578 shares of the restaurant operator’s stock valued at $80,000 after acquiring an additional 357 shares in the last quarter. PNC Financial Services Group Inc. increased its position in BJ’s Restaurants by 113.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,813 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 963 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in BJ’s Restaurants in the 3rd quarter valued at about $203,000. Finally, LS Investment Advisors LLC increased its position in BJ’s Restaurants by 386.3% in the 4th quarter. LS Investment Advisors LLC now owns 3,185 shares of the restaurant operator’s stock valued at $161,000 after acquiring an additional 2,530 shares in the last quarter.

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. As of November 20, 2018, the company owned and operated 202 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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