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

Key Points

• BJ's Restaurants shares hit a new 52-week high, trading as high as $62.68 and finishing near $62.27, up 2.8% on the day. The move came even though the stock had previously closed at $60.23.
• Wall Street remains cautious overall despite the recent rally: analysts currently rate BJRI a consensus “Hold,” with an average price target of $42.00. Recent analyst moves were mixed, including price target cuts from Barclays and Citi and modest increases from Piper Sandler and Benchmark.
• Recent results were mixed, as the company missed EPS estimates in its latest quarter but slightly beat revenue expectations and posted 2.9% revenue growth year over year. Insider selling has also been notable, with executives and directors selling shares over the past 90 days.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $62.68 and last traded at $62.2650, with a volume of 36066 shares trading hands. The stock had previously closed at $60.23.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays decreased their price target 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. Weiss Ratings cut BJ's Restaurants from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Citigroup reduced their price objective on BJ's Restaurants from $49.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, April 16th. Piper Sandler boosted their target price on BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Benchmark upped their target price on shares of BJ's Restaurants from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Two equities 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 stock. Based on data from MarketBeat.com, BJ's Restaurants currently has an average rating of "Hold" and an average target price of $42.00.

BJ's Restaurants Stock Up 2.8%

The company's 50 day moving average price is $48.76 and its two-hundred day moving average price is $42.81. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.30 billion, a P/E ratio of 31.29, a PEG ratio of 1.92 and a beta of 1.31.

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

Insider Buying and Selling at BJ's Restaurants

In other news, Director Noah A. Elbogen sold 4,652 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $54.00, for a total transaction of $251,208.00. Following the completion of the sale, the director owned 76,235 shares of the company's stock, valued at $4,116,690. The trade was a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory S. Lynds sold 6,201 shares of the company's stock in a transaction on Thursday, June 18th. The stock was 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 of the company's stock, valued at $2,596,037.64. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 63,817 shares of company stock worth $3,384,688. Insiders own 4.30% of the company's stock.

Institutional Trading of BJ's Restaurants

A number of hedge funds and other institutional investors have recently bought and sold shares of BJRI. CWM LLC lifted its position in shares of BJ's Restaurants by 187.7% during 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. Quarry LP increased its holdings 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 worth $31,000 after acquiring an additional 971 shares in the last quarter. GAMMA Investing LLC increased its holdings in BJ's Restaurants by 39.3% in 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 in the last quarter. Kemnay Advisory Services Inc. bought a new stake in BJ's Restaurants during the 4th quarter worth approximately $63,000. Finally, US Bancorp DE raised its stake in BJ's Restaurants by 14.5% during the 3rd quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator's stock worth $101,000 after acquiring an additional 418 shares during the period. 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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