BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report)'s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $35.43, but opened at $37.91. BJ's Restaurants shares last traded at $35.20, with a volume of 73,936 shares traded.
The restaurant operator reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.28. BJ's Restaurants had a return on equity of 11.73% and a net margin of 1.99%. The company had revenue of $365.60 million for the quarter, compared to analyst estimates of $362.74 million. During the same quarter last year, the firm posted $0.72 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis.
Wall Street Analyst Weigh In
BJRI has been the topic of several recent research reports. Wall Street Zen cut BJ's Restaurants from a "buy" rating to a "hold" rating in a report on Saturday. Sanford C. Bernstein set a $33.00 target price on BJ's Restaurants and gave the company an "underweight" rating in a report on Friday, May 2nd. Piper Sandler lifted their price target on BJ's Restaurants from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Barclays boosted their price target on shares of BJ's Restaurants from $33.00 to $37.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $38.80.
Read Our Latest Report on BJ's Restaurants
Insider Activity
In other news, Director Greg Trojan sold 146,102 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $44.63, for a total value of $6,520,532.26. Following the sale, the director directly owned 19,896 shares of the company's stock, valued at approximately $887,958.48. The trade was a 88.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian S. Krakower sold 3,738 shares of BJ's Restaurants stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $44.32, for a total transaction of $165,668.16. Following the completion of the sale, the insider owned 4,579 shares of the company's stock, valued at $202,941.28. This trade represents a 44.94% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On BJ's Restaurants
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of BJ's Restaurants in the first quarter valued at approximately $69,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of BJ's Restaurants during the first quarter worth $97,000. US Bancorp DE raised its stake in shares of BJ's Restaurants by 51.8% in the first quarter. US Bancorp DE now owns 2,887 shares of the restaurant operator's stock valued at $99,000 after acquiring an additional 985 shares in the last quarter. Headlands Technologies LLC purchased a new position in BJ's Restaurants in the fourth quarter valued at $108,000. Finally, Longboard Asset Management LP acquired a new position in BJ's Restaurants during the 2nd quarter worth $203,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.
BJ's Restaurants Trading Down 3.6%
The company has a fifty day simple moving average of $42.78 and a two-hundred day simple moving average of $38.17. The company has a current ratio of 0.04, a quick ratio of 0.31 and a debt-to-equity ratio of 0.16. The company has a market cap of $755.84 million, a PE ratio of 28.71, a P/E/G ratio of 1.20 and a beta of 1.59.
BJ's Restaurants Company Profile
(
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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 under brand name Pizookie. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ's Restaurants, Inc in August 2004.
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