Brokerages Set BJ’s Restaurants, Inc. (NASDAQ:BJRI) Price Target at $41.43

BJ’s Restaurants, Inc. (NASDAQ:BJRI) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $41.4286.

Several research analysts have weighed in on the company. Wall Street Zen lowered BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Barclays boosted their price objective on BJ’s Restaurants from $30.00 to $39.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Mizuho set a $39.00 target price on shares of BJ’s Restaurants in a report on Friday, January 9th. Sanford C. Bernstein reaffirmed an “underweight” rating and issued a $30.00 price target on shares of BJ’s Restaurants in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a research report on Monday, December 29th.

BJ’s Restaurants Stock Up 4.0%

Shares of NASDAQ BJRI opened at $42.17 on Friday. BJ’s Restaurants has a 52-week low of $28.46 and a 52-week high of $47.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.36. The stock has a market cap of $891.47 million, a P/E ratio of 31.47, a P/E/G ratio of 1.28 and a beta of 1.33. The firm has a 50 day moving average price of $42.14 and a 200 day moving average price of $36.59.

BJ’s Restaurants declared that its board has initiated a share buyback program on Thursday, October 30th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 11.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Brian S. Krakower sold 8,017 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $39.61, for a total transaction of $317,553.37. Following the completion of the transaction, the executive vice president directly owned 4,409 shares in the company, valued at approximately $174,640.49. This trade represents a 64.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of BJ’s Restaurants

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in BJ’s Restaurants by 39.3% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 265 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of BJ’s Restaurants by 18.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator’s stock worth $98,000 after buying an additional 334 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of BJ’s Restaurants by 1.8% in the 2nd quarter. Prudential Financial Inc. now owns 23,034 shares of the restaurant operator’s stock valued at $1,027,000 after acquiring an additional 397 shares in the last quarter. US Bancorp DE increased its position in shares of BJ’s Restaurants by 14.5% in the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock valued at $101,000 after acquiring an additional 418 shares during the last quarter. Finally, CWM LLC raised its holdings in BJ’s Restaurants by 187.7% during the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 456 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep?dish pizzas, California?style thin crust offerings and in?house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full?service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago?style pizza experience to the West Coast.