Bojangles Inc. (BOJA) Lowered to “Sell” at Zacks Investment Research
Bojangles Inc. (NASDAQ:BOJA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “
BOJA has been the subject of several other research reports. RBC Capital Markets reissued a “sector perform” rating and issued a $19.00 price target (down previously from $20.00) on shares of Bojangles in a research report on Thursday, August 11th. Jefferies Group reissued a “buy” rating and issued a $22.00 price target on shares of Bojangles in a research report on Saturday, June 25th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $16.00 price target (down previously from $17.00) on shares of Bojangles in a research report on Thursday, August 11th. Craig Hallum began coverage on shares of Bojangles in a research report on Tuesday, September 20th. They issued a “strong-buy” rating for the company. Finally, KeyCorp decreased their price target on shares of Bojangles from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.18.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/bojangles-inc-boja-lowered-to-sell-at-zacks-investment-research.html
Bojangles (NASDAQ:BOJA) traded down 0.76% during midday trading on Tuesday, reaching $15.66. 53,257 shares of the company’s stock traded hands. Bojangles has a 1-year low of $13.39 and a 1-year high of $19.75. The company has a market capitalization of $569.02 million, a PE ratio of 16.84 and a beta of 1.80. The firm’s 50 day moving average price is $16.03 and its 200-day moving average price is $17.04.
Bojangles (NASDAQ:BOJA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Bojangles had a net margin of 6.76% and a return on equity of 20.17%. The company earned $131.60 million during the quarter, compared to analysts’ expectations of $132.77 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that Bojangles will post $0.90 EPS for the current year.
In related news, Director William A. Kussell sold 25,000 shares of Bojangles stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $16.73, for a total transaction of $418,250.00. Following the sale, the director now directly owns 140,896 shares in the company, valued at approximately $2,357,190.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric Mcgrew Newman sold 29,125 shares of Bojangles stock in a transaction on Monday, August 8th. The stock was sold at an average price of $18.27, for a total transaction of $532,113.75. Following the sale, the vice president now owns 19,125 shares in the company, valued at $349,413.75. The disclosure for this sale can be found here. Corporate insiders own 74.40% of the company’s stock.
A number of large investors have recently made changes to their positions in BOJA. Sei Investments Co. bought a new stake in shares of Bojangles during the second quarter valued at approximately $179,000. Teachers Advisors Inc. raised its stake in shares of Bojangles by 19.5% in the second quarter. Teachers Advisors Inc. now owns 13,814 shares of the company’s stock valued at $234,000 after buying an additional 2,252 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Bojangles during the second quarter valued at approximately $239,000. California State Teachers Retirement System raised its stake in shares of Bojangles by 14.9% in the second quarter. California State Teachers Retirement System now owns 20,562 shares of the company’s stock valued at $349,000 after buying an additional 2,659 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Bojangles by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 20,714 shares of the company’s stock valued at $352,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.
Bojangles Company Profile
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers a range of items for breakfast, lunch, snack, dinner and after dinner. The Company’s breakfast menu includes its Cajun Filet Biscuit. It also offers hand-breaded, bone-in chicken, Chicken Supremes, Homestyle Chicken Tenders, sandwiches and wraps, as well as fixin’s, including its Seasoned Fries, Bo-Tato Rounds, Cajun Pintos and Dirty Rice.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bojangles Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bojangles Inc. and related companies with MarketBeat.com's FREE daily email newsletter.