Oppenheimer Reiterates “Buy” Rating for BJ's Restaurants (NASDAQ:BJRI)

Oppenheimer reaffirmed their buy rating on shares of BJ's Restaurants (NASDAQ:BJRI) in a research note published on Friday, Anlyst Ratings reports. Oppenheimer currently has a $40.00 price objective on the restaurant operator’s stock. Oppenheimer also issued estimates for BJ's Restaurants’ Q1 2021 earnings at ($0.33) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at $0.10 EPS, Q4 2021 earnings at $0.41 EPS and FY2022 earnings at $1.36 EPS.

Other analysts also recently issued research reports about the company. Stephens upped their price target on BJ's Restaurants from $20.00 to $23.00 and gave the stock an equal weight rating in a research note on Friday, July 24th. Wells Fargo & Company increased their price target on BJ's Restaurants from $23.00 to $29.00 and gave the company an equal weight rating in a report on Tuesday, October 20th. They noted that the move was a valuation call. BidaskClub cut shares of BJ's Restaurants from a strong-buy rating to a buy rating in a research note on Friday, September 25th. Loop Capital lowered shares of BJ's Restaurants from a buy rating to a hold rating and lowered their target price for the company from $30.00 to $21.00 in a research note on Thursday, July 16th. Finally, Barclays boosted their target price on shares of BJ's Restaurants from $16.00 to $18.00 and gave the stock an underweight rating in a research report on Friday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $30.71.

Shares of BJRI stock opened at $30.55 on Friday. BJ's Restaurants has a fifty-two week low of $6.01 and a fifty-two week high of $44.47. The stock’s 50-day moving average is $32.59 and its two-hundred day moving average is $24.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of $680.65 million, a P/E ratio of -26.56 and a beta of 2.08.

BJ's Restaurants (NASDAQ:BJRI) last released its quarterly earnings data on Thursday, October 22nd. The restaurant operator reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.26. The firm had revenue of $198.89 million for the quarter, compared to the consensus estimate of $180.11 million. BJ's Restaurants had a negative return on equity of 2.98% and a negative net margin of 1.58%. The firm’s revenue was down 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, research analysts expect that BJ's Restaurants will post -1.95 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew its stake in shares of BJ's Restaurants by 966.0% in the 2nd quarter. Bank of Montreal Can now owns 2,196 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 1,990 shares during the period. BNP Paribas Arbitrage SA raised its stake in BJ's Restaurants by 39.2% during the first quarter. BNP Paribas Arbitrage SA now owns 7,995 shares of the restaurant operator’s stock worth $111,000 after acquiring an additional 2,251 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of BJ's Restaurants in the 2nd quarter worth about $147,000. Oregon Public Employees Retirement Fund increased its position in shares of BJ's Restaurants by 18.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,047 shares of the restaurant operator’s stock worth $189,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Q Global Advisors LLC acquired a new position in BJ's Restaurants in the second quarter valued at about $205,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

BJ's Restaurants Company Profile

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. As of April 6, 2020, the company operated 209 restaurants. BJ's Restaurants, Inc was founded in 1978 and is based in Huntington Beach, California.

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Analyst Recommendations for BJ's Restaurants (NASDAQ:BJRI)

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