BJ's Restaurants (NASDAQ:BJRI) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• BJ’s Restaurants shares rose above their 200-day moving average, reaching $62.74 and last trading at $61.66 versus the $52.97 long-term average.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, four Hold, and two Sell, resulting in a consensus Hold rating and a $57.12 price target—below the recent share price.
• The company exceeded quarterly expectations, reporting $0.94 EPS and $388.89 million in revenue, but insiders sold 67,784 shares worth $4.65 million over the past 90 days.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $52.97 and traded as high as $62.74. BJ's Restaurants shares last traded at $61.66, with a volume of 513,249 shares.

Analysts Set New Price Targets

BJRI has been the topic of a number of recent analyst reports. William Blair upgraded BJ's Restaurants from a "market perform" rating to an "outperform" rating in a report on Friday, July 17th. Weiss Ratings upgraded BJ's Restaurants from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Citigroup raised their target price on BJ's Restaurants from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Zacks Research downgraded shares of BJ's Restaurants from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Finally, DA Davidson set a $65.00 price target on shares of BJ's Restaurants in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.12.

BJ's Restaurants Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.31 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.33. The business's 50-day simple moving average is $63.90 and its two-hundred day simple moving average is $52.97.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $388.89 million for the quarter, compared to analyst estimates of $377.07 million. BJ's Restaurants had a net margin of 2.86% and a return on equity of 12.93%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Sell-side analysts expect that BJ's Restaurants, Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at BJ's Restaurants

In related news, EVP Kendra D. Miller sold 10,217 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $69.31, for a total transaction of $708,140.27. Following the sale, the executive vice president directly owned 28,599 shares in the company, valued at approximately $1,982,196.69. The trade was a 26.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory S. Lynds sold 25,350 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $67.47, for a total value of $1,710,364.50. Following the sale, the executive vice president directly owned 46,474 shares in the company, valued at $3,135,600.78. This trade represents a 35.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,784 shares of company stock valued at $4,648,326 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of BJ's Restaurants in the second quarter worth about $200,006,000. Dimensional Fund Advisors LP grew its stake 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 valued at $39,125,000 after acquiring an additional 30,684 shares in the last quarter. Bank of America Corp DE grew its stake in BJ's Restaurants by 73.5% during the first quarter. Bank of America Corp DE now owns 324,588 shares of the restaurant operator's stock valued at $11,393,000 after acquiring an additional 137,511 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in BJ's Restaurants during the 4th quarter worth approximately $5,724,000. Finally, Meros Investment Management LP bought a new stake in BJ's Restaurants during the 2nd quarter worth approximately $8,715,047. Hedge funds and other institutional investors own 99.95% of the company's stock.

About BJ's Restaurants

BJ's Restaurants, Inc operates casual dining restaurants under the BJ's Restaurant & Brewhouse brand. The company's restaurants offer a broad menu that includes deep-dish pizza, burgers, sandwiches, salads, pasta, steaks, seafood, and other American-style entrees.

BJ's is also known for its handcrafted beer and signature Pizookie dessert, a warm, freshly baked cookie typically served with ice cream. Its restaurants generally combine full-service dining with an in-house brewery or a selection of proprietary and seasonal beer offerings.

The company traces its history to 1978, when its first restaurant opened in Southern California.

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