Zacks Investment Research Upgrades Bojangles’, Inc. (BOJA) to Hold
Bojangles’, Inc. (NASDAQ:BOJA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “
BOJA has been the topic of several other research reports. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price target on shares of Bojangles’ in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Bojangles’ in a research note on Wednesday, April 12th. TheStreet lowered Bojangles’ from a “b-” rating to a “c” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered Bojangles’ from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $20.22.
Bojangles’ (BOJA) traded up 0.32% on Monday, hitting $15.80. 137,503 shares of the company traded hands. The firm’s 50 day moving average price is $17.02 and its 200 day moving average price is $19.18. Bojangles’ has a 1-year low of $14.55 and a 1-year high of $22.35. The firm has a market capitalization of $578.22 million, a PE ratio of 15.98 and a beta of 2.08.
Bojangles’ (NASDAQ:BOJA) last posted its earnings results on Tuesday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Bojangles’ had a return on equity of 18.44% and a net margin of 7.00%. The business had revenue of $131.50 million during the quarter, compared to the consensus estimate of $132.83 million. Equities research analysts predict that Bojangles’ will post $0.91 EPS for the current fiscal year.
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In related news, VP M John Jordan sold 56,289 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $17.84, for a total transaction of $1,004,195.76. Following the transaction, the vice president now owns 56,289 shares in the company, valued at $1,004,195.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Kibler sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $17.28, for a total transaction of $432,000.00. Following the transaction, the director now owns 65,639 shares in the company, valued at approximately $1,134,241.92. The disclosure for this sale can be found here. Insiders have sold 131,289 shares of company stock worth $2,267,696 in the last ninety days. Corporate insiders own 55.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC boosted its position in Bojangles’ by 7.4% in the first quarter. Frontier Capital Management Co. LLC now owns 444,242 shares of the restaurant operator’s stock valued at $9,107,000 after buying an additional 30,579 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Bojangles’ during the fourth quarter worth about $1,039,000. Eagle Asset Management Inc. raised its stake in shares of Bojangles’ by 47.4% in the first quarter. Eagle Asset Management Inc. now owns 197,405 shares of the restaurant operator’s stock worth $4,046,000 after buying an additional 63,435 shares during the period. Ranger Investment Management L.P. bought a new stake in shares of Bojangles’ during the first quarter worth about $15,723,000. Finally, First National Bank of Omaha raised its stake in shares of Bojangles’ by 18.9% in the first quarter. First National Bank of Omaha now owns 68,325 shares of the restaurant operator’s stock worth $1,401,000 after buying an additional 10,850 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.
Bojangles’ Company Profile
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers food made from its Southern recipes. The Company’s menu includes its made-from-scratch, buttermilk biscuits baked fresh every 20 minutes; its fresh, never-frozen bone-in fried chicken; its fixin’s; its Bo-Smart menu featuring items, such as salads, grilled chicken sandwiches, roasted chicken bites and fat-free green beans; its freshly baked and delicious sweets menu, and its Legendary Iced Tea.
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