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Stephens Begins Coverage of BJ’s Restaurants (NASDAQ:BJRI)

Research analysts at Stephens began coverage on shares of BJ’s Restaurants (NASDAQ:BJRI – Get a Rating) in a note issued to investors on Thursday, reports The Fly. The brokerage set an “equal weight” rating on the restaurant operator’s stock.

BJRI has been the subject of several investigative reports. Barclays cut their price target on BJ’s Restaurants from $21.00 to $17.00 and set an “underweight” rating for the company in a research report on Friday, July 22nd. Benchmark reduced their target price on BJ’s Restaurants to $32.00 in a research note on Friday, July 22nd. Citigroup upped their target price on BJ’s Restaurants from $24.00 to $26.00 in a research note on Friday, July 22nd. Wedbush upped their target price on BJ’s Restaurants from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 22nd. Finally, Piper Sandler cut their price target on BJ’s Restaurants from $38.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.09, according to MarketBeat data.

Price performance of BJ’s restaurants

BJRI stock traded down $1.59 during trading hours on Thursday, reaching $24.89. 484,397 shares of the company’s stock traded hands, compared to its average volume of 378,653. The stock has a market cap of $583.77 million, a PE ratio of -113.14 and a beta of 1.83. The company has a current ratio of 0.43, a quick ratio of 0.36, and a debt-to-equity ratio of 0.15. The company’s 50-day SMA is $25.31, and its 200-day SMA is $25.48. BJ’s Restaurants has a 12-month low of $20.15 and a 12-month high of $47.20.

BJ’s Restaurants (NASDAQ:BJRI – Get Rating) last posted its earnings results on Thursday, July 21st. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.22). BJ’s Restaurants had a negative net margin of 0.42% and a negative return on equity of 1.08%. The business had revenue of $329.70 million during the quarter, compared to analysts’ expectations of $328.02 million. During the same period last year, the company posted earnings per share of $0.26. equities analysts expect that BJ’s Restaurants will post -0.03 EPS for the current year.

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Institutional investors weigh in on BJ’s restaurants

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in shares of BJ’s Restaurants during the first quarter valued at approximately $30,000. KBC Group NV purchased a new stake in shares of BJ’s Restaurants during the second quarter valued at approximately $43,000. Captrust Financial Advisors boosted its position in shares of BJ’s Restaurants by 29.6% in the first quarter. Captrust Financial Advisors now owns 2,536 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 579 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of BJ’s Restaurants by 17.2% in the second quarter. Mutual of America Capital Management LLC now owns 3,936 shares of the restaurant operator’s stock valued at $85,000 after purchasing an additional 578 shares during the last quarter. Finally, Point72 Asset Management LP purchased a new stake in shares of BJ’s Restaurants during the second quarter valued at approximately $102,000. Currently, 95.10% of the shares are owned by hedge funds and other institutional investors.

About BJ’s Restaurants

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BJ’s Restaurants, Inc owns and operates casual dining restaurants in the United States. The company’s restaurants offer pizzas, craft and other beers, appetizers, entrees, pastas, sandwiches, specialty salads and desserts. As of April 19, 2022, it operated 213 restaurants in 29 states. The company was founded in 1978 and is headquartered in Huntington Beach, California.

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