BJ's Restaurants (NASDAQ:BJRI) Hits New 12-Month High - Still a Buy?

Key Points

• BJ's Restaurants shares hit a new 52-week high, trading as high as $60.77 and reflecting a strong recent run well above both the 50-day and 200-day moving averages.
• Despite the stock's surge, Wall Street remains cautious: the consensus rating is Hold with an average price target of $42.00, and several analysts have cut or maintained neutral/underweight views.
• The company recently reported mixed earnings, missing EPS expectations while slightly beating revenue estimates; insiders have also been selling shares in recent months.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $60.77 and last traded at $60.74, with a volume of 458055 shares changing hands. The stock had previously closed at $59.38.

Analysts Set New Price Targets

A number of research firms have weighed in on BJRI. Barclays reduced their price objective on BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating for the company in a research note on Wednesday, May 6th. DA Davidson initiated coverage on BJ's Restaurants in a research note on Friday, March 6th. They issued a "neutral" rating and a $38.00 target price on the stock. Weiss Ratings lowered BJ's Restaurants from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Piper Sandler lifted their price target on BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Mizuho lowered their price objective on BJ's Restaurants from $44.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.00.

BJ's Restaurants Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.25 and a current ratio of 0.31. The firm's 50 day simple moving average is $45.76 and its 200-day simple moving average is $41.87. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.92 and a beta of 1.35.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.04). The business had revenue of $358.12 million during the quarter, compared to analyst estimates of $356.97 million. BJ's Restaurants had a net margin of 3.15% and a return on equity of 13.48%. BJ's Restaurants's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. On average, sell-side analysts predict that BJ's Restaurants, Inc. will post 2.21 EPS for the current year.

Insider Activity at BJ's Restaurants

In other BJ's Restaurants news, EVP Gregory S. Lynds sold 6,201 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.86, for a total value of $346,387.86. Following the completion of the sale, the executive vice president owned 46,474 shares in the company, valued at approximately $2,596,037.64. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kendra D. Miller sold 19,261 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.60, for a total transaction of $1,070,911.60. Following the completion of the transaction, the executive vice president directly owned 28,599 shares in the company, valued at $1,590,104.40. This trade represents a 40.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 63,817 shares of company stock worth $3,384,688 in the last 90 days. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On BJ's Restaurants

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in BJ's Restaurants by 187.7% in the 4th quarter. CWM LLC now owns 699 shares of the restaurant operator's stock valued at $28,000 after buying an additional 456 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BJ's Restaurants by 39.3% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator's stock worth $37,000 after acquiring an additional 265 shares during the period. Quarry LP raised its holdings in shares of BJ's Restaurants by 1,618.3% during the 3rd quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock worth $31,000 after acquiring an additional 971 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of BJ's Restaurants during the 4th quarter valued at about $63,000. Finally, BNP Paribas Financial Markets boosted its position in shares of BJ's Restaurants by 77.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,317 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company's stock.

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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