BJ’s Restaurants (NASDAQ:BJRI) Raised to “Outperform” at CIBC

BJ’s Restaurants (NASDAQ:BJRI) was upgraded by CIBC from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, FirstToMarketsRatingsTable reports. The firm currently has a $52.00 target price on the restaurant operator’s stock. CIBC’s price target would suggest a potential upside of 18.97% from the stock’s current price.

Several other equities research analysts have also recently weighed in on BJRI. BidaskClub raised BJ’s Restaurants from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Wells Fargo & Co reduced their price target on BJ’s Restaurants from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, February 14th. Maxim Group reaffirmed a “buy” rating and issued a $72.00 price target (down from $84.00) on shares of BJ’s Restaurants in a research note on Friday, February 22nd. Stephens reduced their price target on BJ’s Restaurants from $80.00 to $70.00 and set an “in-line” rating on the stock in a research note on Friday, February 22nd. Finally, ValuEngine cut BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.75.

Shares of BJ’s Restaurants stock traded up $2.27 during midday trading on Friday, reaching $43.71. 361,589 shares of the company’s stock traded hands, compared to its average volume of 444,006. The company has a quick ratio of 0.32, a current ratio of 0.39 and a debt-to-equity ratio of 1.66. The company has a market cap of $848.24 million, a PE ratio of 18.60, a P/E/G ratio of 1.26 and a beta of 0.92. BJ’s Restaurants has a 12 month low of $40.64 and a 12 month high of $76.50.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, April 25th. The restaurant operator reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $290.55 million during the quarter, compared to the consensus estimate of $289.49 million. BJ’s Restaurants had a return on equity of 15.86% and a net margin of 4.34%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, research analysts anticipate that BJ’s Restaurants will post 2.25 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its position in shares of BJ’s Restaurants by 296.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 563,119 shares of the restaurant operator’s stock worth $28,447,000 after purchasing an additional 420,991 shares in the last quarter. FMR LLC bought a new stake in BJ’s Restaurants during the 4th quarter valued at $21,270,000. Norges Bank bought a new stake in BJ’s Restaurants during the 4th quarter valued at $20,275,000. Marshall Wace LLP increased its holdings in shares of BJ’s Restaurants by 141.1% in the 1st quarter. Marshall Wace LLP now owns 566,293 shares of the restaurant operator’s stock valued at $26,774,000 after acquiring an additional 331,443 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of BJ’s Restaurants by 67.5% in the 1st quarter. Neuberger Berman Group LLC now owns 717,915 shares of the restaurant operator’s stock valued at $33,943,000 after acquiring an additional 289,372 shares during the period.

About BJ’s Restaurants

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.

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

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