BJ’s Restaurants Rating Lowered to Underperform at Zacks (BJRI)
BJ’s Restaurants (NASDAQ:BJRI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Monday, StockRatingsNetwork reports. They currently have a $26.00 target price on the stock. Zacks‘ price target points to a potential downside of 9.41% from the stock’s previous close.
Zacks‘ analyst wrote, “We are downgrading our recommendation on BJ’s Restaurants from Neutral to Underperform based on lackluster earnings and sluggish same-store sales performance in the recent times. Despite a modest increase in the top line, BJ’s Restaurants’ adjusted earnings per share skid 3.2% in the second quarter of 2013. We believe the company’s top-line growth was driven by several sales-building measures, which pushed up its cost structure. Both earnings per share and revenues missed the Zacks Consensus Estimate in the second quarter. Comps growth has been slowing down in the recent times. While the company continues to expand, we expect increased pre-opening expenses and stiff competition to act as headwinds in the new markets. A relatively smaller scale and the lack of advertising strength compared to its larger peers are negatives for BJ’s Restaurants.”
BJ’s Restaurants (NASDAQ:BJRI) traded down 0.56% during mid-day trading on Monday, hitting $28.54. 195,627 shares of the company’s stock traded hands. BJ’s Restaurants has a 52-week low of $28.36 and a 52-week high of $45.63. The stock has a 50-day moving average of $31.75 and a 200-day moving average of $34.53. The company has a market cap of $804.7 million and a price-to-earnings ratio of 27.08.
BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $202.12 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that BJ’s Restaurants will post $1.04 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets cut their price target on shares of BJ’s Restaurants (NASDAQ:BJRI) from $44.00 to $36.00 in a research note to investors on Tuesday, August 6th. They now have a “market perform” rating on the stock. Separately, analysts at Wedbush cut their price target on shares of BJ’s Restaurants (NASDAQ:BJRI) from $37.00 to $32.00 in a research note to investors on Friday, August 2nd. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of BJ’s Restaurants (NASDAQ:BJRI) from $33.00 to $31.00 in a research note to investors on Thursday, August 1st. They now have a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $36.93.
BJ’s Restaurants, Inc (NASDAQ:BJRI) owns and operates restaurants.
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