Bojangles’, Inc. (BOJA) Given “Buy” Rating at SunTrust Banks, Inc.
Bojangles’, Inc. (NASDAQ:BOJA)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Thursday. They presently have a $21.00 target price on the restaurant operator’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 64.71% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus began coverage on shares of Bojangles’ in a research report on Monday, October 2nd. They set a “hold” rating and a $16.00 price objective for the company. Stephens downgraded shares of Bojangles’ from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price objective on shares of Bojangles’ in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bojangles’ in a research report on Sunday, July 30th. Finally, Zacks Investment Research raised shares of Bojangles’ from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.75.
Bojangles’ (NASDAQ:BOJA) traded up 1.59% on Thursday, hitting $12.75. 360,916 shares of the stock traded hands. The stock has a 50-day moving average price of $13.44 and a 200 day moving average price of $13.44. The company has a market cap of $471.74 million, a price-to-earnings ratio of 13.58 and a beta of 1.97. Bojangles’ has a 1-year low of $12.40 and a 1-year high of $22.35.
Bojangles’ (NASDAQ:BOJA) last announced its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $135.61 million. Bojangles’ had a net margin of 6.70% and a return on equity of 17.05%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, analysts anticipate that Bojangles’ will post $0.82 EPS for the current fiscal year.
In related news, Director James R. Kibler sold 25,000 shares of Bojangles’ stock in a transaction on 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 sale, the director now owns 71,332 shares of the company’s stock, valued at approximately $1,103,506.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 55.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Suisse AG grew its position in Bojangles’ by 99.8% in the 1st quarter. Credit Suisse AG now owns 29,667 shares of the restaurant operator’s stock valued at $608,000 after purchasing an additional 14,819 shares during the period. FMR LLC grew its position in Bojangles’ by 179.2% in the 1st quarter. FMR LLC now owns 2,702,392 shares of the restaurant operator’s stock valued at $55,398,000 after purchasing an additional 1,734,355 shares during the period. Dimensional Fund Advisors LP grew its position in Bojangles’ by 364.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 258,633 shares of the restaurant operator’s stock valued at $5,302,000 after purchasing an additional 202,933 shares during the period. Schwab Charles Investment Management Inc. grew its position in Bojangles’ by 85.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 60,161 shares of the restaurant operator’s stock valued at $1,234,000 after purchasing an additional 27,727 shares during the period. Finally, Tributary Capital Management LLC grew its position in Bojangles’ by 11.7% in the 2nd quarter. Tributary Capital Management LLC now owns 873,850 shares of the restaurant operator’s stock valued at $14,200,000 after purchasing an additional 91,818 shares during the period. 91.26% of the stock is owned by institutional investors and hedge funds.
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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