BJ’s Restaurants (NASDAQ:BJRI) Shares Gap Up on Strong Earnings

BJ’s Restaurants, Inc. (NASDAQ:BJRI)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $32.76, but opened at $36.11. BJ’s Restaurants shares last traded at $36.40, with a volume of 231,522 shares.

The restaurant operator reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.17. The firm had revenue of $337.33 million during the quarter, compared to analysts’ expectations of $335.35 million. BJ’s Restaurants had a return on equity of 5.45% and a net margin of 1.47%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS.

Analysts Set New Price Targets

Several research firms have commented on BJRI. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of BJ’s Restaurants in a report on Wednesday. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of BJ’s Restaurants in a research note on Friday, February 16th. Oppenheimer raised their target price on BJ’s Restaurants from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Citigroup boosted their price target on BJ’s Restaurants from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, TheStreet raised BJ’s Restaurants from a “c” rating to a “b-” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.30.

Insider Activity at BJ’s Restaurants

In related news, major shareholder Fund 1 Investments, Llc sold 242,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.53, for a total value of $8,598,260.00. Following the sale, the insider now owns 2,326,476 shares of the company’s stock, valued at $82,659,692.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Fund 1 Investments, Llc sold 242,000 shares of BJ’s Restaurants stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.53, for a total value of $8,598,260.00. Following the transaction, the insider now directly owns 2,326,476 shares of the company’s stock, valued at $82,659,692.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alex Puchner sold 7,713 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $38.25, for a total transaction of $295,022.25. Following the sale, the vice president now directly owns 12,222 shares of the company’s stock, valued at approximately $467,491.50. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BJ’s Restaurants

Several hedge funds and other institutional investors have recently bought and sold shares of BJRI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of BJ’s Restaurants by 62.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,872 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 1,867 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BJ’s Restaurants during the 3rd quarter worth approximately $239,000. Panagora Asset Management Inc. boosted its holdings in shares of BJ’s Restaurants by 49.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 136,252 shares of the restaurant operator’s stock worth $3,196,000 after buying an additional 45,267 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of BJ’s Restaurants during the 3rd quarter worth approximately $549,000. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of BJ’s Restaurants by 3.1% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 61,539 shares of the restaurant operator’s stock valued at $1,444,000 after acquiring an additional 1,877 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

BJ’s Restaurants Stock Up 5.9 %

The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.19. The company has a market cap of $810.82 million, a price-to-earnings ratio of 41.78, a P/E/G ratio of 1.89 and a beta of 2.12. The stock’s 50-day moving average is $34.52 and its 200-day moving average is $32.66.

BJ’s Restaurants Company Profile

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. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ's Restaurants, Inc in August 2004.