Bojangles’, Inc. (NASDAQ:BOJA) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday.
Several other equities analysts have also issued reports on the company. William Blair lowered Bojangles’ from an “outperform” rating to a “market perform” rating in a research note on Friday, July 28th. Zacks Investment Research lowered 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 set a $18.00 target price on shares of Bojangles’ in a research note on Friday, July 14th. BidaskClub lowered Bojangles’ from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $20.00 target price on shares of Bojangles’ in a research note on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.75.
Bojangles’ (NASDAQ:BOJA) traded down 3.725% during mid-day trading on Wednesday, hitting $12.275. The stock had a trading volume of 98,211 shares. Bojangles’ has a one year low of $12.20 and a one year high of $22.35. The firm’s 50-day moving average price is $13.41 and its 200 day moving average price is $13.41. The company has a market cap of $454.16 million, a PE ratio of 13.072 and a beta of 1.97.
Bojangles’ (NASDAQ:BOJA) last posted its earnings results on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $135.61 million. During the same quarter in the prior year, the company earned $0.27 EPS. Bojangles”s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Bojangles’ will post $0.82 EPS for the current year.
In other Bojangles’ news, Director James R. Kibler sold 25,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $15.47, for a total value of $386,750.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 55.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of BOJA. FMR LLC raised 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 in the last quarter. Ranger Investment Management L.P. acquired a new stake in Bojangles’ in the 1st quarter valued at about $15,723,000. Goldman Sachs Group Inc. acquired a new stake in Bojangles’ in the 1st quarter valued at about $4,455,000. Dimensional Fund Advisors LP raised 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in Bojangles’ by 9.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,362,803 shares of the restaurant operator’s stock valued at $22,145,000 after purchasing an additional 118,281 shares in the last quarter. 91.26% of the stock is currently owned by institutional investors.
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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