BJ’s Restaurants, Inc. (NASDAQ:BJRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, October 30th.
According to Zacks, “BJ’s Restaurants posted third-quarter fiscal 2017 adjusted earnings of 15 cents per share that fell short of the Zacks Consensus Estimate by 37.5%. Also, earnings declined 50% year over year due to increased expenses and adverse effects of the recent hurricanes. Revenues of $247 million were up 5.7% year over year given increase in total operating weeks but missed the consensus mark by 0.7%. Meanwhile, comps declined 1.7% in the quarter. Additionally, BJ’s Restaurants shares have underperformed the industry in the last six months. Nevertheless, the four strategic sales-building initiatives undertaken by the company are expected to boost the top line, going forward. Also, a deep pipeline of new menu items, loyalty program enhancements and other productivity and digital initiatives are likely to improve performance. Even so, higher costs, an uncertain sales environment and a slowdown in company’s development plan remain concerns.”
A number of other research analysts also recently weighed in on BJRI. Barclays PLC lowered their price objective on shares of BJ’s Restaurants from $30.00 to $29.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 18th. Wells Fargo & Company decreased their price target on shares of BJ’s Restaurants from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 18th. Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 price target on shares of BJ’s Restaurants in a research report on Friday, July 14th. Stifel Nicolaus initiated coverage on shares of BJ’s Restaurants in a research report on Monday, October 2nd. They issued a “hold” rating and a $32.00 price target on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price target on shares of BJ’s Restaurants in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.89.
Shares of BJ’s Restaurants (NASDAQ:BJRI) opened at $33.05 on Monday. The firm has a market cap of $643.76, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 0.79. BJ’s Restaurants has a fifty-two week low of $28.00 and a fifty-two week high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings data on Thursday, October 26th. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.09). The company had revenue of $247.00 million for the quarter, compared to the consensus estimate of $248.73 million. BJ’s Restaurants had a net margin of 3.30% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. equities analysts expect that BJ’s Restaurants will post 1.41 EPS for the current year.
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In other news, VP Lon Ledwith sold 4,707 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $31.80, for a total value of $149,682.60. Following the completion of the sale, the vice president now owns 11,867 shares in the company, valued at approximately $377,370.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick Walsh sold 37,764 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.59, for a total transaction of $1,192,964.76. Following the completion of the sale, the director now owns 19,844 shares of the company’s stock, valued at approximately $626,871.96. The disclosure for this sale can be found here. Insiders sold a total of 56,092 shares of company stock valued at $1,763,015 over the last three months. Corporate insiders own 6.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its holdings in BJ’s Restaurants by 34.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 132,445 shares of the restaurant operator’s stock valued at $4,934,000 after buying an additional 33,810 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in BJ’s Restaurants by 4.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 682,961 shares of the restaurant operator’s stock valued at $25,440,000 after buying an additional 29,949 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in BJ’s Restaurants by 23.0% during the 1st quarter. OppenheimerFunds Inc. now owns 19,312 shares of the restaurant operator’s stock valued at $780,000 after buying an additional 3,606 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in BJ’s Restaurants during the 2nd quarter valued at about $417,000. Finally, Westpac Banking Corp bought a new stake in BJ’s Restaurants during the 2nd quarter valued at about $309,000. Institutional investors own 99.00% of the company’s stock.
BJ’s Restaurants Company Profile
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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