BJ's Restaurants (NASDAQ:BJRI) Upgraded by William Blair to Outperform Rating

Key Points

• William Blair upgraded BJ's Restaurants from “market perform” to “outperform,” adding to a mix of Wall Street views that still leaves the stock with a consensus Hold rating and an average price target of $44.25.
• The company recently reported Q1 earnings of $0.57 per share, missing estimates by $0.04, while revenue of $358.12 million slightly beat expectations and rose 2.9% year over year.
• BJ's Restaurants stock has rallied sharply, opening at $62.47 and trading near its 52-week high of $63.91; meanwhile, several insiders sold shares in recent months, including director Lea Anne Ottinger and EVP Brian S. Krakower.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) was upgraded by analysts at William Blair from a "market perform" rating to an "outperform" rating in a research report issued on Friday, Marketbeat reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of BJ's Restaurants from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Barclays dropped their price target on 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. Piper Sandler raised their price objective on BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Mizuho decreased their price objective on BJ's Restaurants from $44.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Finally, Benchmark upped their target price on BJ's Restaurants from $50.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $44.25.

BJ's Restaurants Price Performance

BJ's Restaurants stock opened at $62.47 on Friday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.96 and a beta of 1.31. BJ's Restaurants has a 52-week low of $28.46 and a 52-week high of $63.91. The stock's 50 day moving average price is $51.05 and its two-hundred day moving average price is $43.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.25 and a current ratio of 0.31.

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

Insider Activity

In related news, Director Lea Anne Ottinger sold 2,792 shares of BJ's Restaurants stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $53.50, for a total transaction of $149,372.00. Following the transaction, the director owned 39,701 shares of the company's stock, valued at $2,124,003.50. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian S. Krakower sold 7,341 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.17, for a total value of $405,002.97. Following the sale, the executive vice president owned 4,721 shares of the company's stock, valued at $260,457.57. This trade represents a 60.86% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 63,817 shares of company stock worth $3,384,688. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On BJ's Restaurants

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG raised its holdings in shares of BJ's Restaurants by 576.9% in the third quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock valued at $44,326,000 after purchasing an additional 1,237,383 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in BJ's Restaurants by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,114,685 shares of the restaurant operator's stock worth $39,125,000 after purchasing an additional 30,684 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in BJ's Restaurants by 48.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator's stock worth $28,557,000 after purchasing an additional 306,930 shares in the last quarter. Raymond James Financial Inc. grew its position in BJ's Restaurants by 67.3% in the 3rd quarter. Raymond James Financial Inc. now owns 388,779 shares of the restaurant operator's stock worth $11,869,000 after purchasing an additional 156,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in BJ's Restaurants by 8.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 385,230 shares of the restaurant operator's stock valued at $15,178,000 after buying an additional 30,269 shares during the last quarter. 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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