Intrinsic value of BJ's Restaurants - BJRI

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$43.10

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$43.10

 
Intrinsic value

$38.26

 
Up/down potential

-11%

 
Rating

hold

 
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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of BJRI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.93
  7.90
  7.61
  7.35
  7.11
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
Revenue, $m
  993
  1,071
  1,153
  1,238
  1,326
  1,417
  1,512
  1,611
  1,714
  1,821
  1,933
  2,049
  2,170
  2,296
  2,428
  2,566
  2,709
  2,859
  3,016
  3,180
  3,352
  3,531
  3,719
  3,915
  4,121
  4,337
  4,563
  4,799
  5,047
  5,307
  5,580
Variable operating expenses, $m
 
  999
  1,075
  1,153
  1,235
  1,321
  1,409
  1,501
  1,597
  1,697
  1,801
  1,909
  2,022
  2,139
  2,262
  2,390
  2,524
  2,664
  2,810
  2,962
  3,122
  3,289
  3,464
  3,647
  3,839
  4,040
  4,250
  4,471
  4,702
  4,944
  5,198
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  931
  999
  1,075
  1,153
  1,235
  1,321
  1,409
  1,501
  1,597
  1,697
  1,801
  1,909
  2,022
  2,139
  2,262
  2,390
  2,524
  2,664
  2,810
  2,962
  3,122
  3,289
  3,464
  3,647
  3,839
  4,040
  4,250
  4,471
  4,702
  4,944
  5,198
Operating income, $m
  62
  73
  78
  84
  90
  97
  103
  110
  117
  124
  132
  140
  149
  157
  166
  176
  186
  196
  207
  218
  230
  242
  255
  268
  282
  297
  313
  329
  346
  364
  382
EBITDA, $m
  126
  142
  153
  164
  176
  188
  200
  214
  227
  241
  256
  272
  288
  304
  322
  340
  359
  379
  400
  421
  444
  468
  493
  519
  546
  575
  605
  636
  669
  703
  739
Interest expense (income), $m
  1
  5
  6
  8
  9
  10
  12
  13
  15
  16
  18
  20
  21
  23
  25
  27
  29
  31
  34
  36
  39
  41
  44
  47
  50
  53
  56
  60
  63
  67
  71
Earnings before tax, $m
  61
  68
  72
  77
  81
  86
  91
  97
  102
  108
  114
  121
  127
  134
  141
  149
  156
  164
  173
  182
  191
  201
  211
  221
  232
  244
  256
  269
  282
  296
  311
Tax expense, $m
  15
  18
  19
  21
  22
  23
  25
  26
  28
  29
  31
  33
  34
  36
  38
  40
  42
  44
  47
  49
  52
  54
  57
  60
  63
  66
  69
  73
  76
  80
  84
Net income, $m
  46
  49
  53
  56
  59
  63
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
  133
  139
  146
  154
  162
  170
  178
  187
  196
  206
  216
  227

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  709
  740
  796
  855
  916
  979
  1,044
  1,113
  1,184
  1,258
  1,335
  1,415
  1,499
  1,586
  1,677
  1,772
  1,871
  1,975
  2,083
  2,196
  2,315
  2,439
  2,568
  2,704
  2,846
  2,995
  3,151
  3,314
  3,486
  3,665
  3,854
Adjusted assets (=assets-cash), $m
  686
  740
  796
  855
  916
  979
  1,044
  1,113
  1,184
  1,258
  1,335
  1,415
  1,499
  1,586
  1,677
  1,772
  1,871
  1,975
  2,083
  2,196
  2,315
  2,439
  2,568
  2,704
  2,846
  2,995
  3,151
  3,314
  3,486
  3,665
  3,854
Revenue / Adjusted assets
  1.448
  1.447
  1.448
  1.448
  1.448
  1.447
  1.448
  1.447
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
  1.448
Average production assets, $m
  350
  377
  406
  436
  467
  499
  532
  567
  603
  641
  680
  721
  764
  808
  855
  903
  954
  1,007
  1,062
  1,119
  1,180
  1,243
  1,309
  1,378
  1,451
  1,527
  1,606
  1,689
  1,777
  1,868
  1,964
Working capital, $m
  -49
  -78
  -84
  -90
  -97
  -103
  -110
  -118
  -125
  -133
  -141
  -150
  -158
  -168
  -177
  -187
  -198
  -209
  -220
  -232
  -245
  -258
  -271
  -286
  -301
  -317
  -333
  -350
  -368
  -387
  -407
Total debt, $m
  148
  182
  218
  255
  294
  334
  375
  418
  463
  510
  559
  610
  663
  718
  776
  836
  898
  964
  1,033
  1,104
  1,179
  1,258
  1,340
  1,426
  1,516
  1,610
  1,709
  1,812
  1,920
  2,034
  2,153
Total liabilities, $m
  434
  468
  504
  541
  580
  620
  661
  704
  749
  796
  845
  896
  949
  1,004
  1,062
  1,122
  1,184
  1,250
  1,319
  1,390
  1,465
  1,544
  1,626
  1,712
  1,802
  1,896
  1,995
  2,098
  2,206
  2,320
  2,439
Total equity, $m
  275
  272
  292
  314
  336
  359
  383
  408
  434
  462
  490
  519
  550
  582
  615
  650
  687
  725
  764
  806
  849
  895
  943
  992
  1,045
  1,099
  1,156
  1,216
  1,279
  1,345
  1,414
Total liabilities and equity, $m
  709
  740
  796
  855
  916
  979
  1,044
  1,112
  1,183
  1,258
  1,335
  1,415
  1,499
  1,586
  1,677
  1,772
  1,871
  1,975
  2,083
  2,196
  2,314
  2,439
  2,569
  2,704
  2,847
  2,995
  3,151
  3,314
  3,485
  3,665
  3,853
Debt-to-equity ratio
  0.538
  0.670
  0.750
  0.810
  0.870
  0.930
  0.980
  1.020
  1.070
  1.110
  1.140
  1.170
  1.200
  1.230
  1.260
  1.280
  1.310
  1.330
  1.350
  1.370
  1.390
  1.410
  1.420
  1.440
  1.450
  1.460
  1.480
  1.490
  1.500
  1.510
  1.520
Adjusted equity ratio
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  46
  49
  53
  56
  59
  63
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
  133
  139
  146
  154
  162
  170
  178
  187
  196
  206
  216
  227
Depreciation, amort., depletion, $m
  64
  69
  74
  80
  85
  91
  97
  104
  110
  117
  124
  131
  139
  147
  155
  164
  173
  183
  193
  204
  215
  226
  238
  251
  264
  278
  292
  307
  323
  340
  357
Funds from operations, $m
  151
  119
  127
  136
  145
  154
  164
  174
  185
  196
  207
  219
  232
  245
  258
  273
  288
  303
  319
  336
  354
  372
  392
  412
  433
  456
  479
  503
  529
  556
  584
Change in working capital, $m
  13
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
Cash from operations, $m
  138
  135
  133
  142
  151
  161
  171
  181
  192
  204
  216
  228
  241
  254
  268
  283
  298
  314
  331
  348
  366
  386
  406
  426
  448
  471
  496
  521
  547
  575
  604
Maintenance CAPEX, $m
  0
  -64
  -69
  -74
  -79
  -85
  -91
  -97
  -103
  -110
  -117
  -124
  -131
  -139
  -147
  -155
  -164
  -173
  -183
  -193
  -204
  -215
  -226
  -238
  -251
  -264
  -278
  -292
  -307
  -323
  -340
New CAPEX, $m
  -109
  -28
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -44
  -46
  -48
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -76
  -80
  -83
  -87
  -92
  -96
Cash from investing activities, $m
  -105
  -92
  -98
  -104
  -110
  -117
  -124
  -132
  -139
  -148
  -156
  -165
  -174
  -183
  -193
  -203
  -215
  -226
  -238
  -251
  -264
  -278
  -292
  -307
  -323
  -340
  -358
  -375
  -394
  -415
  -436
Free cash flow, $m
  33
  44
  36
  38
  41
  44
  47
  50
  53
  56
  60
  63
  67
  71
  75
  79
  83
  88
  92
  97
  103
  108
  113
  119
  125
  132
  138
  145
  153
  160
  168
Issuance/(repayment) of debt, $m
  48
  34
  36
  37
  38
  40
  42
  43
  45
  47
  49
  51
  53
  55
  58
  60
  63
  66
  69
  72
  75
  78
  82
  86
  90
  94
  99
  103
  108
  114
  119
Issuance/(repurchase) of shares, $m
  -93
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -45
  34
  36
  37
  38
  40
  42
  43
  45
  47
  49
  51
  53
  55
  58
  60
  63
  66
  69
  72
  75
  78
  82
  86
  90
  94
  99
  103
  108
  114
  119
Total cash flow (excl. dividends), $m
  -12
  78
  71
  75
  79
  84
  88
  93
  98
  103
  109
  114
  120
  126
  132
  139
  146
  153
  161
  169
  177
  186
  196
  205
  215
  226
  237
  249
  261
  274
  288
Retained Cash Flow (-), $m
  41
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -43
  -45
  -48
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -69
Prev. year cash balance distribution, $m
 
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  81
  51
  54
  57
  61
  64
  68
  72
  76
  80
  85
  89
  94
  99
  104
  110
  115
  121
  128
  134
  141
  148
  155
  163
  171
  180
  189
  198
  208
  219
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  78
  46
  47
  47
  47
  47
  46
  45
  44
  42
  40
  38
  36
  33
  31
  28
  25
  22
  20
  17
  15
  12
  10
  8
  7
  5
  4
  3
  2
  2
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

BJ’s Restaurants, Inc. owns and operates casual dining restaurants in the United States. The company’s restaurants offer pizzas, craft and other beers, appetizers, entrees, pastas, sandwiches, salads, and desserts. As of February 22, 2017, it owned and operated 189 casual dining restaurants located in the 24 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington. The company operates its restaurants under the BJ’s Restaurant & Brewery, BJ’s Restaurant & Brewhouse, BJ’s Pizza & Grill, and BJ’s Grill brand names. BJ’s Restaurants, Inc. was founded in 1978 and is based in Huntington Beach, California.

FINANCIAL RATIOS  of  BJ's Restaurants (BJRI)

Valuation Ratios
P/E Ratio 20.9
Price to Sales 1
Price to Book 3.5
Price to Tangible Book
Price to Cash Flow 7
Price to Free Cash Flow 33.2
Growth Rates
Sales Growth Rate 7.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 26.7%
Cap. Spend. - 3 Yr. Gr. Rate -1.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 53.8%
Total Debt to Equity 53.8%
Interest Coverage 62
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 6%
Return On Total Capital 11%
Ret/ On T. Cap. - 3 Yr. Avg. 9.5%
Return On Equity 15.6%
Return On Equity - 3 Yr. Avg. 12.1%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 39.9%
Gross Margin - 3 Yr. Avg. 40.1%
EBITDA Margin 12.7%
EBITDA Margin - 3 Yr. Avg. 12.2%
Operating Margin 6.2%
Oper. Margin - 3 Yr. Avg. 5.8%
Pre-Tax Margin 6.1%
Pre-Tax Margin - 3 Yr. Avg. 5.7%
Net Profit Margin 4.6%
Net Profit Margin - 3 Yr. Avg. 4.2%
Effective Tax Rate 24.6%
Eff/ Tax Rate - 3 Yr. Avg. 25.7%
Payout Ratio 0%

BJRI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BJRI stock intrinsic value calculation we used $993 million for the last fiscal year's total revenue generated by BJ's Restaurants. The default revenue input number comes from 2017 income statement of BJ's Restaurants. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BJRI stock valuation model: a) initial revenue growth rate of 7.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for BJRI is calculated based on our internal credit rating of BJ's Restaurants, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of BJ's Restaurants.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BJRI stock the variable cost ratio is equal to 93.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BJRI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for BJ's Restaurants.

Corporate tax rate of 27% is the nominal tax rate for BJ's Restaurants. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BJRI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BJRI are equal to 35.2%.

Life of production assets of 5.5 years is the average useful life of capital assets used in BJ's Restaurants operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BJRI is equal to -7.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $275 million for BJ's Restaurants - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 22.216 million for BJ's Restaurants is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of BJ's Restaurants at the current share price and the inputted number of shares is $1.0 billion.


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COMPANY NEWS

▶ BJs Restaurants Opens in Youngstown, Ohio   [Apr-25-17 01:00PM  GlobeNewswire]
▶ BJ's Restaurants Gains on Wedbush Upgrade   [Apr-20-17 04:13PM  TheStreet.com]
▶ BJs Restaurants Opens in Fort Wayne, Indiana   [Apr-11-17 01:00PM  GlobeNewswire]
▶ BJs Restaurants Opens in Mobile, Alabama   [Apr-04-17 02:45PM  GlobeNewswire]
▶ Is the Dream Run Finally Over for Dave & Buster's Stock?   [Mar-29-17 09:37AM  Investopedia]
▶ BJ's Restaurants' Earnings Jump Despite Sluggish Demand   [Feb-24-17 09:35AM  Motley Fool]
▶ BJs Restaurants Opens in Columbia, Maryland   [Feb-21-17 09:18PM  GlobeNewswire]
▶ Is Liberty Braves Group (BATRA) A Good Stock To Buy?   [Dec-14-16 04:33PM  at Insider Monkey]
▶ BJs Restaurants Opens in North Olmsted, Ohio   [04:07PM  GlobeNewswire]
▶ Should You Buy BJs Restaurants, Inc. (BJRI)?   [Dec-01-16 11:48PM  at Insider Monkey]
▶ 5 Stocks You Should Dump Right Now   [09:10AM  at Kiplinger]
▶ BJs Restaurants Opens in Charlottesville, Virginia   [Oct-26-16 11:00AM  GlobeNewswire]
▶ Tractor Supply, Ascena Retail in Thursdays 52-Week Low Club   [Oct-20-16 04:04PM  at 24/7 Wall St.]
▶ BJ's Restaurants Inc. Serves Up a Sloppy Q3   [06:35PM  at Motley Fool]
▶ BJs Restaurants Opens in La Jolla, California   [Oct-04-16 07:00PM  GlobeNewswire]
▶ BJs Restaurants Opens in Valley Stream, New York   [Sep-27-16 01:00PM  GlobeNewswire]
Stock chart of BJRI Financial statements of BJRI
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