Bojangles’, Inc. (BOJA) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of Bojangles’, Inc. (NASDAQ:BOJA) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, July 11th.

Several other equities analysts have also commented on the stock. TheStreet lowered shares of Bojangles’ from a b- rating to a c rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a buy rating and set a $23.00 price objective on shares of Bojangles’ in a research report on Wednesday, April 12th. Zacks Investment Research upgraded shares of Bojangles’ from a strong sell rating to a hold rating in a research report on Tuesday, May 9th. Finally, Cowen and Company started coverage on shares of Bojangles’ in a research report on Tuesday, March 14th. They set an outperform rating and a $23.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $20.22.

Shares of Bojangles’ (NASDAQ:BOJA) remained flat at $15.50 during trading on Tuesday. The company’s stock had a trading volume of 272,943 shares. The stock’s 50-day moving average is $16.42 and its 200 day moving average is $18.86. The firm has a market capitalization of $567.24 million, a P/E ratio of 15.67 and a beta of 2.08. Bojangles’ has a one year low of $14.55 and a one year high of $22.35.

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

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In related news, Director James R. Kibler sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $16.41, for a total value of $410,250.00. Following the transaction, the director now owns 71,332 shares of the company’s stock, valued at approximately $1,170,558.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP M John Jordan sold 56,289 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $17.84, for a total transaction of $1,004,195.76. Following the completion of the transaction, the vice president now directly owns 56,289 shares in the company, valued at approximately $1,004,195.76. The disclosure for this sale can be found here. Insiders sold a total of 131,289 shares of company stock worth $2,267,696 in the last ninety days. 55.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in Bojangles’ by 7.0% in the first quarter. American International Group Inc. now owns 6,030 shares of the restaurant operator’s stock worth $124,000 after buying an additional 392 shares during the period. Victory Capital Management Inc. increased its position in Bojangles’ by 43.6% in the first quarter. Victory Capital Management Inc. now owns 6,459 shares of the restaurant operator’s stock worth $132,000 after buying an additional 1,961 shares during the period. Envestnet Asset Management Inc. increased its position in Bojangles’ by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 19,571 shares of the restaurant operator’s stock worth $399,000 after buying an additional 2,321 shares during the period. Wells Fargo & Company MN increased its position in Bojangles’ by 5.0% in the first quarter. Wells Fargo & Company MN now owns 55,725 shares of the restaurant operator’s stock worth $1,143,000 after buying an additional 2,657 shares during the period. Finally, US Bancorp DE increased its position in Bojangles’ by 35.7% in the first quarter. US Bancorp DE now owns 13,574 shares of the restaurant operator’s stock worth $278,000 after buying an additional 3,574 shares during the period. 93.68% of the stock is currently 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.

Analyst Recommendations for Bojangles` (NASDAQ:BOJA)

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