Bojangles’, Inc. (BOJA) Downgraded to “Market Perform” at Cowen and Company
Bojangles’, Inc. (NASDAQ:BOJA) was downgraded by investment analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $23.00 target price on the restaurant operator’s stock. Cowen and Company’s price objective indicates a potential upside of 86.99% from the company’s previous close.
Several other brokerages also recently issued reports on BOJA. William Blair cut shares of Bojangles’ from an “outperform” rating to a “market perform” rating in a report on Friday, July 28th. BidaskClub cut shares of Bojangles’ from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Bojangles’ in a report on Friday, July 14th. Zacks Investment Research cut shares of Bojangles’ from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price target on shares of Bojangles’ in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.13.
Bojangles’ (NASDAQ BOJA) traded down 1.60% during mid-day trading on Friday, reaching $12.30. The company’s stock had a trading volume of 716,947 shares. The firm’s 50 day moving average price is $13.21 and its 200 day moving average price is $13.21. The firm has a market capitalization of $455.09 million, a P/E ratio of 13.10 and a beta of 1.97. Bojangles’ has a 52 week low of $11.85 and a 52 week high of $21.85.
Bojangles’ (NASDAQ:BOJA) last posted its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.23 EPS for the quarter, topping the Zacks’ 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 company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $135.61 million. During the same period in the prior year, the business posted $0.27 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Bojangles’ will post $0.82 EPS for the current fiscal year.
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In related news, Director James R. Kibler sold 25,000 shares of Bojangles’ stock in a transaction that occurred 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 transaction, the director now directly owns 71,332 shares of the company’s stock, valued at $1,103,506.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 55.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Skylands Capital LLC acquired a new stake in Bojangles’ in the third quarter valued at approximately $764,000. California State Teachers Retirement System lifted its holdings in shares of Bojangles’ by 55.7% during the second quarter. California State Teachers Retirement System now owns 30,762 shares of the restaurant operator’s stock worth $500,000 after purchasing an additional 11,000 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Bojangles’ by 59.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,131 shares of the restaurant operator’s stock worth $246,000 after purchasing an additional 5,617 shares during the period. State Street Corp lifted its holdings in shares of Bojangles’ by 52.0% during the second quarter. State Street Corp now owns 235,337 shares of the restaurant operator’s stock worth $3,828,000 after purchasing an additional 80,483 shares during the period. Finally, AHL Partners LLP lifted its holdings in shares of Bojangles’ by 99.9% during the second quarter. AHL Partners LLP now owns 54,629 shares of the restaurant operator’s stock worth $888,000 after purchasing an additional 27,305 shares during the period. Hedge funds and other institutional investors own 91.26% 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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