BJ’s Restaurants (NASDAQ:BJRI) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

19 Oct 2024, 02:58 by Kim Johansen · The Markets Daily

BJ’s Restaurants, Inc. (NASDAQ:BJRI – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.29 and traded as high as $34.71. BJ’s Restaurants shares last traded at $34.57, with a volume of 260,267 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays lowered their price objective on shares of BJ’s Restaurants from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. Benchmark downgraded shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $43.00 target price on shares of BJ’s Restaurants in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.43.

Check Out Our Latest Stock Report on BJ’s Restaurants

BJ’s Restaurants Stock Performance

The company has a market cap of $856.05 million, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 1.66 and a beta of 2.12. The company’s 50-day moving average is $31.48 and its two-hundred day moving average is $33.32. The company has a quick ratio of 0.27, a current ratio of 0.35 and a debt-to-equity ratio of 0.16.

BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.21. The company had revenue of $349.93 million during the quarter, compared to analyst estimates of $349.18 million. BJ’s Restaurants had a net margin of 2.19% and a return on equity of 7.83%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Equities analysts predict that BJ’s Restaurants, Inc. will post 1.42 EPS for the current year.

Insiders Place Their Bets

In other BJ’s Restaurants news, CEO C Bradford Richmond bought 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $29.40 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the chief executive officer now directly owns 16,905 shares of the company’s stock, valued at $497,007. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On BJ’s Restaurants

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in BJ’s Restaurants in the third quarter valued at approximately $500,000. Creative Planning grew its position in BJ’s Restaurants by 27.1% during the second quarter. Creative Planning now owns 11,620 shares of the restaurant operator’s stock valued at $403,000 after acquiring an additional 2,477 shares during the last quarter. Luxor Capital Group LP bought a new position in BJ’s Restaurants during the second quarter valued at approximately $1,049,000. Armistice Capital LLC bought a new position in BJ’s Restaurants during the second quarter valued at approximately $2,602,000. Finally, 272 Capital LP bought a new position in shares of BJ’s Restaurants in the second quarter worth approximately $1,173,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

About BJ’s Restaurants

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