Bojangles’, Inc. (BOJA) Receives Average Recommendation of “Hold” from Brokerages
Bojangles’, Inc. (NASDAQ:BOJA) has been given a consensus recommendation of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.88.
A number of research analysts have weighed in on the company. Royal Bank Of Canada cut their price objective on Bojangles’ from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday. Cowen and Company lowered Bojangles’ from an “outperform” rating to a “market perform” rating and set a $23.00 price objective for the company. in a report on Friday, October 20th. Barclays PLC cut their price objective on Bojangles’ from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, October 18th. TheStreet lowered Bojangles’ from a “c-” rating to a “d+” rating in a report on Friday, October 13th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $21.00 price objective on shares of Bojangles’ in a report on Thursday, October 12th.
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Bojangles’ (NASDAQ:BOJA) last announced its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Bojangles’ had a return on equity of 17.05% and a net margin of 6.70%. The business had revenue of $133.40 million for the quarter, compared to analysts’ expectations of $133.88 million. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year.
Bojangles’ announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 1st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Bojangles’ by 15.0% in the second quarter. FMR LLC now owns 3,109,039 shares of the restaurant operator’s stock worth $50,522,000 after purchasing an additional 406,647 shares during the period. Vanguard Group Inc. grew its stake 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 during the period. Tributary Capital Management LLC grew its stake in Bojangles’ by 11.7% in the second quarter. Tributary Capital Management LLC now owns 873,850 shares of the restaurant operator’s stock worth $14,200,000 after purchasing an additional 91,818 shares during the period. Dimensional Fund Advisors LP grew its stake in Bojangles’ by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 316,704 shares of the restaurant operator’s stock worth $5,147,000 after purchasing an additional 58,071 shares during the period. Finally, State Street Corp grew its stake in Bojangles’ by 52.0% in 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. Institutional investors own 91.37% 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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