Bojangles Inc. (BOJA) Rating 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 research report issued on Tuesday.
According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “
Other equities analysts also recently issued research reports about the stock. Jefferies Group dropped their price target on shares of Bojangles from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Piper Jaffray Cos. restated a “neutral” rating and issued a $16.00 price target (down previously from $17.00) on shares of Bojangles in a research note on Thursday, August 11th. KeyCorp dropped their price target on shares of Bojangles from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, September 26th. RBC Capital Markets restated a “sector perform” rating and issued a $19.00 price target (down previously from $20.00) on shares of Bojangles in a research note on Thursday, August 11th. Finally, Craig Hallum started coverage on shares of Bojangles in a research note on Tuesday, September 20th. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.18.
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Shares of Bojangles (NASDAQ:BOJA) traded down 0.76% during trading on Tuesday, reaching $15.66. The company had a trading volume of 53,397 shares. The firm has a 50-day moving average of $16.03 and a 200 day moving average of $17.04. The firm has a market capitalization of $569.02 million, a PE ratio of 16.84 and a beta of 1.80. Bojangles has a 1-year low of $13.39 and a 1-year high of $19.75.
Bojangles (NASDAQ:BOJA) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business earned $131.60 million during the quarter, compared to the consensus estimate of $132.77 million. Bojangles had a net margin of 6.76% and a return on equity of 20.17%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Analysts expect that Bojangles will post $0.90 earnings per share for the current year.
In other news, insider Kenneth E. Avery sold 4,521 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $18.50, for a total value of $83,638.50. Following the completion of the sale, the insider now directly owns 4,521 shares of the company’s stock, valued at $83,638.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric Mcgrew Newman sold 29,125 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $18.27, for a total transaction of $532,113.75. Following the completion of the sale, the vice president now directly owns 19,125 shares of the company’s stock, valued at $349,413.75. The disclosure for this sale can be found here. 74.40% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Sei Investments Co. acquired a new stake in shares of Bojangles during the second quarter worth approximately $179,000. Teachers Advisors Inc. boosted 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 worth $234,000 after buying an additional 2,252 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Bojangles during the second quarter worth approximately $239,000. California State Teachers Retirement System boosted 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 worth $349,000 after buying an additional 2,659 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted 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 worth $352,000 after buying an additional 336 shares during the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.
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.
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