Bojangles’, Inc. (BOJA) Downgraded by Stephens
Bojangles’, Inc. (NASDAQ:BOJA) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.
Several other research firms have also recently weighed in on BOJA. Zacks Investment Research cut shares of Bojangles’ from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Bojangles’ in a research report on Friday, July 14th. William Blair lowered shares of Bojangles’ from an “outperform” rating to a “market perform” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Bojangles’ from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus initiated coverage on shares of Bojangles’ in a research report on Monday, October 2nd. They issued a “hold” rating and a $16.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.43.
Shares of Bojangles’ (BOJA) traded down 4.94% during mid-day trading on Wednesday, reaching $12.50. The company had a trading volume of 671,175 shares. The company has a market capitalization of $462.49 million, a PE ratio of 13.30 and a beta of 1.97. The company’s 50-day moving average price is $13.48 and its 200-day moving average price is $13.48. Bojangles’ has a 52-week low of $12.40 and a 52-week high of $22.35.
Bojangles’ (NASDAQ:BOJA) last released its earnings results on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Bojangles’ had a net margin of 6.70% and a return on equity of 17.05%. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $135.61 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Bojangles’ will post $0.82 earnings per share for the current fiscal year.
In related news, Director James R. Kibler sold 25,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $15.47, for a total value of $386,750.00. Following the completion of the transaction, the director now owns 71,332 shares of the company’s stock, valued at $1,103,506.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 55.30% of the company’s stock.
A number of large investors have recently bought and sold shares of BOJA. FMR LLC raised its position in Bojangles’ by 179.2% in the first quarter. FMR LLC now owns 2,702,392 shares of the restaurant operator’s stock worth $55,398,000 after purchasing an additional 1,734,355 shares in the last quarter. Ranger Investment Management L.P. acquired a new position in Bojangles’ in the first quarter worth about $15,723,000. Goldman Sachs Group Inc. acquired a new position in Bojangles’ in the first quarter worth about $4,455,000. Dimensional Fund Advisors LP raised its position in Bojangles’ by 364.3% in the first quarter. Dimensional Fund Advisors LP now owns 258,633 shares of the restaurant operator’s stock worth $5,302,000 after purchasing an additional 202,933 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Bojangles’ by 9.5% in the second quarter. Vanguard Group Inc. now owns 1,362,803 shares of the restaurant operator’s stock worth $22,145,000 after purchasing an additional 118,281 shares in the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.
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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