Wedbush Downgrades BJ's Restaurants (BJRI) to Neutral

September 9, 2016 7:29 AM EDT
Get Alerts BJRI Hot Sheet
Price: $34.33 -0.35%

Rating Summary:
    5 Buy, 14 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Wedbush downgraded BJ's Restaurants (NASDAQ: BJRI) from Outperform to Neutral with a price target of $40.00 (from $47.00), citing risk to current consensus EPS.

Analyst Nick Setyan commented, "Given our expectation for muted SSS growth trends and a declining marginal benefit from ongoing cost initiatives, we believe risk to stubbornly high 2H:16 and 2017 consensus estimates exists. Therefore, we are lowering our rating to NEUTRAL from OUTPERFORM."

The firm is increasing 2016 EPS estimate to $1.74 from $1.69 versus $1.85 consensus. They are also increasing 2017 EPS estimate to $2.07 from $1.94 versus consensus of $2.13.

For an analyst ratings summary and ratings history on BJ's Restaurants click here. For more ratings news on BJ's Restaurants click here.

Shares of BJ's Restaurants closed at $38.94 yesterday.

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