Zacks Investment Research downgraded shares of Bojangles (NASDAQ:BOJA) from a strong-buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “
Several other brokerages also recently weighed in on BOJA. BidaskClub downgraded shares of Bojangles from a buy rating to a hold rating in a research report on Wednesday, November 28th. SunTrust Banks downgraded shares of Bojangles from a buy rating to a hold rating and set a $16.00 price objective for the company. in a research report on Friday, November 9th. KeyCorp began coverage on shares of Bojangles in a research report on Wednesday, October 3rd. They set a sector weight rating for the company. Finally, ValuEngine upgraded shares of Bojangles from a hold rating to a buy rating in a research report on Friday, September 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $15.50.
Bojangles (NASDAQ:BOJA) last issued its quarterly earnings data on Thursday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. The business had revenue of $138.67 million during the quarter, compared to the consensus estimate of $136.29 million. Bojangles had a net margin of 9.42% and a return on equity of 9.95%. As a group, equities research analysts expect that Bojangles will post 0.71 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in BOJA. Harvest Management LLC purchased a new stake in Bojangles in the 3rd quarter valued at $157,000. California Public Employees Retirement System purchased a new stake in Bojangles in the 2nd quarter valued at $173,000. Stone Ridge Asset Management LLC purchased a new stake in Bojangles in the 3rd quarter valued at $182,000. First Trust Advisors LP purchased a new stake in Bojangles in the 2nd quarter valued at $184,000. Finally, Rhumbline Advisers raised its position in Bojangles by 27.4% in the 2nd quarter. Rhumbline Advisers now owns 17,111 shares of the restaurant operator’s stock valued at $246,000 after purchasing an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Bojangles Company Profile
Bojangles', Inc develops, operates, and franchises limited service restaurants in the United States. Its restaurants offer made-from-scratch biscuit breakfast sandwiches, hand-breaded bone-in chicken, fixin's, and iced tea. As of July 1, 2018, the company operated 766 system-wide restaurants, including 325 company-operated and 441 franchised restaurants primarily located in the Southeastern United States.
See Also: Quick Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bojangles Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bojangles and related companies with MarketBeat.com's FREE daily email newsletter.