William Blair analyst Sharon Zackfia has maintained their neutral stance on BJRI stock, giving a Hold rating on July 22.
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Sharon Zackfia’s rating is based on a combination of factors, including BJ’s Restaurants’ second-quarter performance, which exceeded expectations in terms of adjusted EPS due to favorable below-the-line items like interest and taxes. While revenue growth aligned with consensus, it slightly missed her projections, despite consistent trends and record sales on special occasions like Mother’s Day and Father’s Day.
The company saw a 3.3% increase in traffic, although this was slightly below the anticipated range. The introduction of the $13 Pizookie Meal Deal has driven traffic and guest frequency, but the mix declined due to this promotion and growth in off-premises and late-night sales. Additionally, the successful launch of the SNICKERS Pizookie LTO and improvements in handling large parties contributed positively, yet these factors combined suggest a balanced outlook, warranting a Hold rating.
In another report released on July 22, Citi also maintained a Hold rating on the stock with a $43.00 price target.