BJ’s Restaurants (NASDAQ:BJRI) Shares Gap Down – Here’s What Happened

BJ’s Restaurants, Inc. (NASDAQ:BJRI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $36.65, but opened at $35.36. BJ’s Restaurants shares last traded at $36.44, with a volume of 24,961 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on BJRI shares. Gordon Haskett upgraded BJ’s Restaurants from an “underperform” rating to a “hold” rating and set a $36.00 target price for the company in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $43.00 price target on shares of BJ’s Restaurants in a research report on Friday, November 1st. Piper Sandler lifted their target price on BJ’s Restaurants from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Barclays raised their price objective on BJ’s Restaurants from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Oppenheimer lowered BJ’s Restaurants from an “outperform” rating to a “market perform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.00.

BJ’s Restaurants Trading Up 0.2 %

The business’s 50 day moving average price is $35.89 and its two-hundred day moving average price is $33.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.35. The company has a market capitalization of $805.67 million, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.06 and a beta of 2.10.

BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings results on Thursday, October 31st. The restaurant operator reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). BJ’s Restaurants had a net margin of 2.24% and a return on equity of 7.98%. The business had revenue of $325.70 million during the quarter, compared to analyst estimates of $324.97 million. During the same period in the previous year, the company posted ($0.16) earnings per share. BJ’s Restaurants’s revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that BJ’s Restaurants, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Activity

In other BJ’s Restaurants news, insider Brian S. Krakower sold 2,313 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $35.60, for a total value of $82,342.80. Following the completion of the sale, the insider now owns 5,339 shares in the company, valued at $190,068.40. This represents a 30.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On BJ’s Restaurants

Several institutional investors and hedge funds have recently modified their holdings of BJRI. 272 Capital LP bought a new stake in BJ’s Restaurants during the second quarter valued at about $1,173,000. Landscape Capital Management L.L.C. grew its holdings in BJ’s Restaurants by 75.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 82,800 shares of the restaurant operator’s stock valued at $2,696,000 after buying an additional 35,722 shares during the last quarter. Eagle Asset Management Inc. bought a new position in BJ’s Restaurants in the 3rd quarter worth approximately $4,310,000. SG Americas Securities LLC acquired a new position in shares of BJ’s Restaurants during the third quarter worth approximately $500,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of BJ’s Restaurants in the third quarter valued at approximately $2,064,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

About BJ’s Restaurants

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 under brand name Pizookie. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ’s Restaurants, Inc in August 2004.