BJ’s Restaurants, Inc. (NASDAQ:BJRI) had its target price reduced by research analysts at Barclays PLC from $38.00 to $36.00 in a report issued on Wednesday. The firm currently has an “underweight” rating on the restaurant operator’s stock. Barclays PLC’s target price would indicate a potential upside of 3.75% from the company’s previous close.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of BJ’s Restaurants from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating and set a $44.00 price objective on shares of BJ’s Restaurants in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $35.00 price objective on shares of BJ’s Restaurants in a report on Thursday, April 27th. Wedbush raised shares of BJ’s Restaurants from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $31.50 to $41.00 in a report on Thursday, April 20th. Finally, Canaccord Genuity raised shares of BJ’s Restaurants from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. BJ’s Restaurants has a consensus rating of “Hold” and a consensus target price of $39.00.

BJ’s Restaurants (BJRI) traded up 0.14% during midday trading on Wednesday, hitting $34.75. 266,147 shares of the stock traded hands. BJ’s Restaurants has a one year low of $32.24 and a one year high of $47.55. The company has a market cap of $749.14 million, a P/E ratio of 18.96 and a beta of 1.10. The company’s 50 day moving average is $39.00 and its 200-day moving average is $39.40.

BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings results on Thursday, April 27th. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. BJ’s Restaurants had a net margin of 4.29% and a return on equity of 14.86%. The business had revenue of $257.80 million for the quarter, compared to analyst estimates of $255.66 million. During the same period in the previous year, the business posted $0.47 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that BJ’s Restaurants will post $1.80 EPS for the current fiscal year.

BJ’s Restaurants announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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In related news, VP Kevin E. Mayer sold 4,468 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $45.46, for a total transaction of $203,115.28. Following the transaction, the vice president now owns 5,817 shares of the company’s stock, valued at $264,440.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Puchner sold 7,073 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $45.80, for a total transaction of $323,943.40. Following the transaction, the insider now directly owns 4,094 shares in the company, valued at approximately $187,505.20. The disclosure for this sale can be found here. Insiders sold 22,793 shares of company stock worth $1,035,319 in the last ninety days. Insiders own 6.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Kernodle & Katon Asset Management Group LLC purchased a new position in shares of BJ’s Restaurants during the first quarter valued at about $102,000. State of Alaska Department of Revenue increased its position in shares of BJ’s Restaurants by 77.9% in the second quarter. State of Alaska Department of Revenue now owns 3,557 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 1,557 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of BJ’s Restaurants by 38.2% in the first quarter. Victory Capital Management Inc. now owns 3,734 shares of the restaurant operator’s stock valued at $151,000 after buying an additional 1,033 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of BJ’s Restaurants by 0.6% in the first quarter. Mason Street Advisors LLC now owns 4,242 shares of the restaurant operator’s stock valued at $171,000 after buying an additional 24 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new position in shares of BJ’s Restaurants during the fourth quarter valued at about $233,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for BJ`s Restaurants (NASDAQ:BJRI)

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