Bojangles’, Inc. (BOJA) Upgraded to Hold at Zacks Investment Research

Bojangles’, Inc. (NASDAQ:BOJA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “

A number of other equities research analysts have also recently weighed in on BOJA. BidaskClub cut Bojangles’ from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price target on shares of Bojangles’ in a report on Friday. TheStreet raised Bojangles’ from a “c” rating to a “b-” rating in a report on Monday, May 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Bojangles’ in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.22.

Shares of Bojangles’ (NASDAQ:BOJA) traded up 0.32% during midday trading on Monday, hitting $15.80. The company’s stock had a trading volume of 137,503 shares. The firm has a 50-day moving average of $17.02 and a 200 day moving average of $19.18. The firm has a market cap of $578.22 million, a price-to-earnings ratio of 15.98 and a beta of 2.08. Bojangles’ has a 12-month low of $14.55 and a 12-month high of $22.35.

Bojangles’ (NASDAQ:BOJA) last issued its quarterly earnings data on Tuesday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Bojangles’ had a return on equity of 18.44% and a net margin of 7.00%. The business had revenue of $131.50 million during the quarter, compared to analysts’ expectations of $132.83 million. On average, equities research analysts predict that Bojangles’ will post $0.91 EPS for the current fiscal year.

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In other news, Director James R. Kibler sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $16.41, for a total value of $410,250.00. Following the completion of the sale, the director now directly owns 71,332 shares of the company’s stock, valued at approximately $1,170,558.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M John Jordan sold 56,289 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $17.84, for a total value of $1,004,195.76. Following the completion of the sale, the vice president now directly owns 56,289 shares of the company’s stock, valued at $1,004,195.76. The disclosure for this sale can be found here. Insiders sold a total of 131,289 shares of company stock valued at $2,267,696 over the last three months. Company insiders own 55.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in Bojangles’ by 179.2% in the first quarter. FMR LLC now owns 2,702,392 shares of the restaurant operator’s stock valued at $55,398,000 after buying an additional 1,734,355 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in Bojangles’ during the first quarter valued at approximately $15,723,000. Renaissance Technologies LLC increased its stake in Bojangles’ by 569.0% in the fourth quarter. Renaissance Technologies LLC now owns 273,625 shares of the restaurant operator’s stock valued at $5,103,000 after buying an additional 232,725 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Bojangles’ during the first quarter valued at approximately $4,455,000. Finally, Dimensional Fund Advisors LP increased its stake in Bojangles’ by 364.3% in the first quarter. Dimensional Fund Advisors LP now owns 258,633 shares of the restaurant operator’s stock valued at $5,302,000 after buying an additional 202,933 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Bojangles` (NASDAQ:BOJA)

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