William Blair analyst Sharon Zackfia has maintained their neutral stance on BJRI stock, giving a Hold rating on October 16.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sharon Zackfia’s rating is based on a combination of factors, including BJ’s Restaurants’ performance in the third quarter and its future outlook. Although the company’s adjusted earnings per share slightly exceeded expectations, comparable sales growth was below consensus. This was due to weaker trends in the early part of the quarter, despite a recovery to consistent growth later on.
Furthermore, the company has shown positive traffic trends, particularly in the last six weeks, driven by successful marketing strategies and promotions like the Pizookie Meal Deal. However, the overall performance and the anticipated fourth-quarter comparable sales growth, while better than consensus, suggest a cautious stance. This combination of mixed results and future expectations led Sharon Zackfia to maintain a Hold rating on BJ’s Restaurants’ stock.
In another report released on October 16, Citi also maintained a Hold rating on the stock with a $38.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BJRI in relation to earlier this year.