BJ's Restaurants (BJRI) stock surged 5% in Tuesday's intraday trading session, outperforming both its Retail-Wholesale peers and the broader market. The rally came as analysts grew increasingly bullish on the casual dining chain's earnings prospects.
According to Zacks Investment Research, BJRI was recently added to the Zacks Rank #1 (Strong Buy) list. Analysts have revised their earnings estimates higher for the company, with the consensus estimate for the current year increasing by 1.4% over the past 60 days.
The positive sentiment surrounding BJ's Restaurants stems from its improving earnings outlook. Over the past three months, the consensus estimate for BJRI's full-year earnings has climbed 10.8% higher, signaling stronger analyst confidence in the company's growth prospects.
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