BJ’s Restaurants (NASDAQ:BJRI) Cut to Market Perform at Oppenheimer

Oppenheimer downgraded shares of BJ’s Restaurants (NASDAQ:BJRI) from an outperform rating to a market perform rating in a research report report published on Tuesday, MarketBeat.com reports.

A number of other analysts have also recently weighed in on the stock. Barclays cut their price objective on shares of BJ’s Restaurants from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Piper Sandler increased their price target on shares of BJ’s Restaurants from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Wedbush restated an “outperform” rating and issued a $43.00 price objective on shares of BJ’s Restaurants in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, BJ’s Restaurants has a consensus rating of “Hold” and a consensus target price of $38.00.

BJ’s Restaurants Stock Up 0.2 %

Shares of NASDAQ:BJRI opened at $35.31 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.18. BJ’s Restaurants has a fifty-two week low of $27.61 and a fifty-two week high of $38.87. The firm’s 50 day moving average price is $35.85 and its 200 day moving average price is $33.99. The stock has a market cap of $805.67 million, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.06 and a beta of 2.10.

BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings data on Thursday, October 31st. The restaurant operator reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). BJ’s Restaurants had a return on equity of 7.98% and a net margin of 2.24%. The company had revenue of $325.70 million for the quarter, compared to analyst estimates of $324.97 million. During the same period in the previous year, the business posted ($0.16) EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts predict that BJ’s Restaurants will post 1.26 earnings per share for the current fiscal year.

Insider Transactions at BJ’s Restaurants

In other news, insider Brian S. Krakower sold 2,313 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $35.60, for a total value of $82,342.80. Following the completion of the sale, the insider now owns 5,339 shares in the company, valued at approximately $190,068.40. This trade represents a 30.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Trading of BJ’s Restaurants

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of BJ’s Restaurants by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,284 shares of the restaurant operator’s stock valued at $888,000 after purchasing an additional 1,823 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BJ’s Restaurants by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 493,006 shares of the restaurant operator’s stock valued at $16,056,000 after purchasing an additional 5,075 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of BJ’s Restaurants by 10.4% in the 3rd quarter. Jane Street Group LLC now owns 131,876 shares of the restaurant operator’s stock valued at $4,294,000 after purchasing an additional 12,432 shares in the last quarter. Quarry LP increased its holdings in shares of BJ’s Restaurants by 764.9% in the 3rd quarter. Quarry LP now owns 813 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 719 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of BJ’s Restaurants in the 3rd quarter valued at about $254,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

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