BJ's Restaurants (NASDAQ:BJRI) Coverage Initiated at DA Davidson

Key Points

• DA Davidson initiated coverage with a "neutral" rating and a $38 price target, suggesting about a 6.06% upside from the prior close.
• BJ's beat quarterly estimates with $0.66 EPS vs. $0.60 expected and $355.4M revenue (up 3.2% YoY), yet the consensus remains a "Hold" with an average analyst target of $42.38.
• Insider activity included Director C. Bradford Richmond buying 1,200 shares at $35.10 and an EVP selling 8,017 shares; company insiders own 4.30% of the stock.

Analysts at DA Davidson initiated coverage on shares of BJ's Restaurants (NASDAQ:BJRI - Get Free Report) in a report released on Friday,Benzinga reports. The firm set a "neutral" rating and a $38.00 price target on the restaurant operator's stock. DA Davidson's price target would suggest a potential upside of 6.06% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Mizuho increased their price target on BJ's Restaurants from $39.00 to $42.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Barclays increased their target price on shares of BJ's Restaurants from $39.00 to $42.00 and gave the stock an "underweight" rating in a research note on Thursday, February 26th. Citigroup lifted their price target on shares of BJ's Restaurants from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Benchmark upped their price objective on shares of BJ's Restaurants from $44.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of BJ's Restaurants in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $42.38.

BJ's Restaurants Stock Performance

Shares of BJRI opened at $35.83 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $759.60 million, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.32. The firm's fifty day simple moving average is $41.79 and its two-hundred day simple moving average is $36.94. BJ's Restaurants has a 12 month low of $28.46 and a 12 month high of $47.02.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. BJ's Restaurants had a return on equity of 13.82% and a net margin of 3.49%.The firm had revenue of $355.40 million during the quarter, compared to analyst estimates of $353.71 million. During the same period last year, the company posted $0.47 EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts predict that BJ's Restaurants will post 1.5 EPS for the current year.

Insider Activity at BJ's Restaurants

In other news, Director C Bradford Richmond bought 1,200 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average cost of $35.10 per share, for a total transaction of $42,120.00. Following the completion of the purchase, the director directly owned 16,700 shares in the company, valued at $586,170. This represents a 7.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian S. Krakower sold 8,017 shares of the company's stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $39.61, for a total value of $317,553.37. Following the transaction, the executive vice president directly owned 4,409 shares in the company, valued at $174,640.49. This represents a 64.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On BJ's Restaurants

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of BJ's Restaurants by 187.7% in the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator's stock worth $28,000 after purchasing an additional 456 shares in the last quarter. Quarry LP grew its stake in BJ's Restaurants by 1,618.3% in the 3rd quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock valued at $31,000 after buying an additional 971 shares in the last quarter. GAMMA Investing LLC raised its holdings in BJ's Restaurants by 39.3% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator's stock valued at $37,000 after acquiring an additional 265 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of BJ's Restaurants during the fourth quarter worth $63,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of BJ's Restaurants by 18.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator's stock worth $98,000 after acquiring an additional 334 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

BJ's Restaurants Company Profile

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.

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