Short Interest in Bojangles’, Inc. (BOJA) Rises By 37.2%
Bojangles’, Inc. (NASDAQ:BOJA) was the recipient of a significant growth in short interest in the month of October. As of October 13th, there was short interest totalling 1,444,723 shares, a growth of 37.2% from the September 29th total of 1,052,739 shares. Currently, 8.2% of the company’s stock are short sold. Based on an average daily trading volume, of 419,018 shares, the short-interest ratio is currently 3.4 days.
Several research analysts recently weighed in on BOJA shares. William Blair lowered Bojangles’ from an “outperform” rating to a “market perform” rating in a research report on Friday, July 28th. Stephens lowered Bojangles’ from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 11th. Zacks Investment Research lowered Bojangles’ from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. SunTrust Banks, Inc. reissued a “buy” rating and set a $21.00 price target on shares of Bojangles’ in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price target on shares of Bojangles’ in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.13.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Skylands Capital LLC acquired a new stake in shares of Bojangles’ in the 3rd quarter valued at about $764,000. California State Teachers Retirement System raised its stake in shares of Bojangles’ by 55.7% in the 2nd quarter. California State Teachers Retirement System now owns 30,762 shares of the restaurant operator’s stock valued at $500,000 after purchasing an additional 11,000 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Bojangles’ by 59.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,131 shares of the restaurant operator’s stock valued at $246,000 after purchasing an additional 5,617 shares during the period. State Street Corp raised its stake in shares of Bojangles’ by 52.0% in the 2nd quarter. State Street Corp now owns 235,337 shares of the restaurant operator’s stock valued at $3,828,000 after purchasing an additional 80,483 shares during the period. Finally, AHL Partners LLP raised its stake in shares of Bojangles’ by 99.9% in the 2nd quarter. AHL Partners LLP now owns 54,629 shares of the restaurant operator’s stock valued at $888,000 after purchasing an additional 27,305 shares during the period. 91.26% of the stock is currently owned by hedge funds and other institutional investors.
Bojangles’ (BOJA) opened at 12.15 on Friday. Bojangles’ has a 52 week low of $11.85 and a 52 week high of $21.85. The firm has a 50-day moving average price of $13.12 and a 200-day moving average price of $13.12. The stock has a market cap of $449.54 million, a P/E ratio of 12.94 and a beta of 1.97.
Bojangles’ (NASDAQ:BOJA) last released its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Bojangles’ had a return on equity of 17.05% and a net margin of 6.70%. The firm had revenue of $134.40 million for the quarter, compared to the consensus estimate of $135.61 million. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Bojangles’ will post $0.82 EPS for the current year.
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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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