BJ’s Restaurants, Inc. (BJRI) Rating Lowered to Sell at Zacks Investment Research
BJ’s Restaurants, Inc. (NASDAQ:BJRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “BJ’s Restaurants posted third-quarter fiscal 2017 adjusted earnings of 15 cents per share that fell short of the Zacks Consensus Estimate by 37.5%. Also, earnings declined 50% year over year due to increased expenses and adverse effects of the recent hurricanes. Revenues of $247 million were up 5.7% year over year given increase in total operating weeks but missed the consensus mark by 0.7%. Meanwhile, comps declined 1.7% in the quarter. Additionally, BJ’s Restaurants shares have underperformed the industry in the last six months. Nevertheless, the four strategic sales-building initiatives undertaken by the company are expected to boost the top line, going forward. Also, a deep pipeline of new menu items, loyalty program enhancements and other productivity and digital initiatives are likely to improve performance. Even so, higher costs, an uncertain sales environment and a slowdown in company’s development plan remain concerns.”
Other research analysts have also recently issued research reports about the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price target on shares of BJ’s Restaurants in a report on Friday, July 28th. TheStreet cut BJ’s Restaurants from a “b” rating to a “c+” rating in a report on Friday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $41.00 price target (down previously from $44.00) on shares of BJ’s Restaurants in a report on Saturday, July 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $36.00 price target on shares of BJ’s Restaurants in a report on Thursday, October 12th. Finally, Stifel Nicolaus started coverage on BJ’s Restaurants in a report on Monday, October 2nd. They issued a “hold” rating and a $32.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.89.
BJ’s Restaurants (BJRI) opened at 31.70 on Monday. BJ’s Restaurants has a 52 week low of $28.00 and a 52 week high of $47.55. The stock has a market capitalization of $679.84 million, a P/E ratio of 18.68 and a beta of 1.07. The stock’s 50 day moving average price is $30.45 and its 200-day moving average price is $36.20.
BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, October 26th. The restaurant operator reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.09). BJ’s Restaurants had a return on equity of 13.57% and a net margin of 3.30%. The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $248.73 million. During the same period in the previous year, the firm earned $0.30 EPS. BJ’s Restaurants’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that BJ’s Restaurants will post $1.38 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System grew its holdings in shares of BJ’s Restaurants by 8.2% during the 3rd quarter. New York State Teachers Retirement System now owns 22,493 shares of the restaurant operator’s stock valued at $685,000 after acquiring an additional 1,700 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in BJ’s Restaurants by 41.5% in the third quarter. Victory Capital Management Inc. now owns 6,214 shares of the restaurant operator’s stock worth $189,000 after purchasing an additional 1,823 shares in the last quarter. First Trust Advisors LP boosted its holdings in BJ’s Restaurants by 6.1% in the third quarter. First Trust Advisors LP now owns 43,576 shares of the restaurant operator’s stock worth $1,327,000 after purchasing an additional 2,487 shares in the last quarter. Whittier Trust Co. bought a new stake in BJ’s Restaurants in the third quarter worth $318,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in BJ’s Restaurants in the second quarter worth $417,000. Institutional investors and hedge funds own 99.38% of the company’s stock.
About BJ’s Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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