Zacks Investment Research Downgrades J. Alexander’s Holdings, Inc. (JAX) to Sell

J. Alexander’s Holdings, Inc. (NYSE:JAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

According to Zacks, “J. Alexanders Holdings, Inc. owns and operates dining restaurants primarily in the United States. Its operating segments consists of J. Alexander’s, Redlands Grill and Stoney River Steakhouse and Grill. J. Alexander’s restaurant offer seafood czarina, Tuscan steak, grilled fish with mango papaya salsa and chicken Milanese. Redlands Grill offers a sushi program, a coffee-cured rib eye and made-from-scratch flatbreads. Stoney River offers fresh seafood selections, salads and house specialties. J. Alexanders Holdings, Inc. is based in Nashville, TN. “

Shares of J. Alexander’s Holdings (NYSE:JAX) opened at $9.75 on Friday. J. Alexander’s Holdings has a fifty-two week low of $9.00 and a fifty-two week high of $12.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.56 and a quick ratio of 0.46. The firm has a market capitalization of $143.28, a P/E ratio of 27.86 and a beta of 0.27.

J. Alexander’s Holdings announced that its board has authorized a stock repurchase program on Thursday, August 10th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JAX. Russell Investments Group Ltd. lifted its holdings in J. Alexander’s Holdings by 26.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 564,265 shares of the company’s stock worth $6,911,000 after buying an additional 118,122 shares during the period. Spark Investment Management LLC purchased a new position in shares of J. Alexander’s Holdings in the 2nd quarter valued at approximately $297,000. Bessemer Group Inc. purchased a new position in shares of J. Alexander’s Holdings in the 2nd quarter valued at approximately $282,000. Crescent Grove Advisors LLC purchased a new position in shares of J. Alexander’s Holdings in the 2nd quarter valued at approximately $1,328,000. Finally, SG Americas Securities LLC lifted its stake in shares of J. Alexander’s Holdings by 1.0% in the 2nd quarter. SG Americas Securities LLC now owns 44,510 shares of the company’s stock valued at $545,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 69.94% of the company’s stock.

J. Alexander’s Holdings Company Profile

J. Alexander’s Holdings, Inc, through its subsidiaries, owns and operates three complementary dining restaurant concepts: J. Alexander’s, Redlands Grill and Stoney River Steakhouse and Grill (Stoney River). The Company is engaged in providing contemporary American cuisines. J. Alexander’s is an upscale dining restaurant offering a contemporary American menu.

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