Bojangles’, Inc. (BOJA) Raised 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 research note issued on Monday, July 17th.

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

BOJA has been the subject of several other reports. BidaskClub cut shares of Bojangles’ from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. TheStreet raised shares of Bojangles’ from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price objective on shares of Bojangles’ in a research report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Bojangles’ in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.44.

Shares of Bojangles’ (NASDAQ:BOJA) traded up 0.37% during trading on Monday, hitting $13.50. 196,194 shares of the company were exchanged. The stock has a market cap of $499.49 million, a P/E ratio of 14.38 and a beta of 1.98. The company’s 50-day moving average price is $15.14 and its 200 day moving average price is $18.23. Bojangles’ has a 12 month low of $12.85 and a 12 month high of $22.35.

Bojangles’ (NASDAQ:BOJA) last posted its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Bojangles’ had a net margin of 6.70% and a return on equity of 17.05%. The company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $135.61 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Bojangles’ will post $0.82 earnings per share for the current fiscal year.

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In related news, Director James R. Kibler sold 25,000 shares of the business’s 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 completion of the transaction, the director now owns 71,332 shares of the company’s stock, valued at $1,103,506.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 100,000 shares of company stock valued at $1,650,250. 55.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of BOJA. Bank of New York Mellon Corp increased its position in shares of Bojangles’ by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 109,736 shares of the restaurant operator’s stock valued at $2,249,000 after buying an additional 12,389 shares during the last quarter. US Bancorp DE boosted its stake in Bojangles’ by 35.7% in the first quarter. US Bancorp DE now owns 13,574 shares of the restaurant operator’s stock valued at $278,000 after buying an additional 3,574 shares during the period. Wells Fargo & Company MN boosted its stake in Bojangles’ by 5.0% in the first quarter. Wells Fargo & Company MN now owns 55,725 shares of the restaurant operator’s stock valued at $1,143,000 after buying an additional 2,657 shares during the period. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Bojangles’ during the first quarter valued at approximately $730,000. Finally, Independent Portfolio Consultants Inc. bought a new stake in shares of Bojangles’ during the first quarter valued at approximately $989,000. 92.64% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Bojangles` (NASDAQ:BOJA)

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