BJ's Restaurants (NASDAQ:BJRI) Sets New 12-Month High - Here's Why

Key Points

• BJ's Restaurants hit a new 52-week high during intraday trading, reaching as high as $63.91 before pulling back. The move came as investors continued to push the stock well above its 50-day and 200-day moving averages.
• Analysts remain cautious overall despite a few higher price targets. The stock’s average rating is still “Hold,” with a consensus price target of $42.00, even after Benchmark reiterated a Buy and Piper Sandler raised its target.
• Recent fundamentals and insider activity were mixed: the company beat revenue expectations but missed EPS estimates in its latest quarter, while several insiders sold shares. At the same time, institutional investors, including Invesco and AQR, increased their stakes.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $63.91 and last traded at $60.60, with a volume of 326337 shares trading hands. The stock had previously closed at $61.63.

Wall Street Analysts Forecast Growth

BJRI has been the topic of several analyst reports. Piper Sandler raised their price target on shares of BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Mizuho cut their price objective on shares of BJ's Restaurants from $44.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Barclays reduced their price objective on shares of BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 6th. Citigroup decreased their target price on shares of BJ's Restaurants from $49.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Finally, Benchmark lifted their target price on shares of BJ's Restaurants from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $42.00.

BJ's Restaurants Trading Down 1.7%

The company has a market capitalization of $1.27 billion, a PE ratio of 30.61, a P/E/G ratio of 2.00 and a beta of 1.31. 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 business has a fifty day moving average price of $50.62 and a 200 day moving average price of $43.39.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.04). The firm had revenue of $358.12 million for the quarter, compared to analysts' expectations of $356.97 million. BJ's Restaurants had a return on equity of 13.48% and a net margin of 3.15%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts expect that BJ's Restaurants, Inc. will post 2.21 EPS for the current fiscal year.

Insider Activity

In related news, EVP Brian S. Krakower sold 7,341 shares of BJ's Restaurants stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.17, for a total transaction of $405,002.97. Following the transaction, the executive vice president owned 4,721 shares in the company, valued at approximately $260,457.57. The trade was a 60.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Noah A. Elbogen sold 4,652 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $54.00, for a total transaction of $251,208.00. Following the sale, the director directly owned 76,235 shares of the company's stock, valued at approximately $4,116,690. This trade represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 63,817 shares of company stock valued at $3,384,688 over the last quarter. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of BJ's Restaurants by 15.6% in the first quarter. AQR Capital Management LLC now owns 37,189 shares of the restaurant operator's stock worth $1,274,000 after buying an additional 5,013 shares during the period. Caxton Associates LLP purchased a new stake in shares of BJ's Restaurants during the 1st quarter valued at about $291,000. Russell Investments Group Ltd. lifted its position in BJ's Restaurants by 29.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 17,662 shares of the restaurant operator's stock worth $788,000 after acquiring an additional 4,045 shares in the last quarter. Invesco Ltd. lifted its position in BJ's Restaurants by 22.5% during the 2nd quarter. Invesco Ltd. now owns 291,957 shares of the restaurant operator's stock worth $13,021,000 after acquiring an additional 53,574 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in BJ's Restaurants by 0.9% in the 2nd quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator's stock worth $3,194,000 after acquiring an additional 637 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

About BJ's Restaurants

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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