Fintel reports that on August 21, 2023, Oppenheimer reiterated coverage of BJ`s Restaurant (NASDAQ:BJRI) with a Outperform recommendation.
Analyst Price Forecast Suggests 30.09% Upside
As of August 2, 2023, the average one-year price target for BJ`s Restaurant is 39.13. The forecasts range from a low of 30.30 to a high of $46.20. The average price target represents an increase of 30.09% from its latest reported closing price of 30.08.
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The projected annual revenue for BJ`s Restaurant is 1,365MM, an increase of 1.38%. The projected annual non-GAAP EPS is 0.81.
What is the Fund Sentiment?
There are 399 funds or institutions reporting positions in BJ`s Restaurant. This is an increase of 19 owner(s) or 5.00% in the last quarter. Average portfolio weight of all funds dedicated to BJRI is 0.10%, an increase of 15.60%. Total shares owned by institutions decreased in the last three months by 0.56% to 24,594K shares. 
The put/call ratio of BJRI is 0.10, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,508K shares representing 14.88% ownership of the company. In it's prior filing, the firm reported owning 3,817K shares, representing a decrease of 8.81%. The firm decreased its portfolio allocation in BJRI by 4.72% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,701K shares representing 7.22% ownership of the company. In it's prior filing, the firm reported owning 1,734K shares, representing a decrease of 1.91%. The firm increased its portfolio allocation in BJRI by 5.32% over the last quarter.
OTCFX - T. Rowe Price Small-Cap Stock Fund holds 1,091K shares representing 4.63% ownership of the company. In it's prior filing, the firm reported owning 1,094K shares, representing a decrease of 0.30%. The firm increased its portfolio allocation in BJRI by 6.03% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 845K shares representing 3.58% ownership of the company. In it's prior filing, the firm reported owning 846K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in BJRI by 11.34% over the last quarter.
Neuberger Berman Group holds 784K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 818K shares, representing a decrease of 4.32%. The firm increased its portfolio allocation in BJRI by 0.87% over the last quarter.
BJ`s Restaurant Background Information
(This description is provided by the company.)
BJ's Restaurants, Inc. ('BJ's') is a national brand with brewhouse roots and a menu where craft matters. BJ's broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ's EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep dish pizza and the often imitated, but never replicated world-famous Pizookie® dessert. BJ's has been a pioneer in the craft brewing world since 1996, and takes pride in serving BJ's award-winning proprietary handcrafted beers, brewed at its brewing operations in five states and by independent third party craft brewers. The BJ's experience offers high-quality ingredients, bold flavors, moderate prices, sincere service and a cool, contemporary atmosphere. Founded in 1978, BJ's owns and operates 210 casual dining restaurants in 29 states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington. All restaurants offer dine-in, take-out, delivery and large party catering. Due to the COVID-19 pandemic, one of our restaurants remains temporarily closed, and dine-in service is currently limited or not available and hours are limited in our remaining 209 restaurants.
Additional reading:
- Press Release dated July 27, 2023
- Press release dated April 27, 2023
- Investor Rights Termination Agreement, dated April 13, 2023, by and among the Company, SC 2018 Trust LLC and BJ's Act III, LLC, incorporated by reference to Exhibit 10.1 of the Form 8-K filed April 18, 2023.
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