Bojangles’, Inc. (BOJA) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Bojangles’, Inc. (NASDAQ:BOJA) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday, August 1st.

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

Several other equities research analysts have also issued reports on BOJA. Jefferies Group LLC reaffirmed a buy rating and set a $23.00 target price on shares of Bojangles’ in a research report on Wednesday, April 12th. TheStreet raised Bojangles’ from a c rating to a b- rating in a report on Monday, May 8th. BidaskClub downgraded Bojangles’ from a sell rating to a strong sell rating in a research note on Tuesday, July 11th. Piper Jaffray Companies reiterated a hold rating and set a $18.00 price target on shares of Bojangles’ in a research report on Friday, July 14th. Finally, William Blair downgraded Bojangles’ from an outperform rating to a market perform rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Bojangles’ presently has a consensus rating of Hold and an average target price of $19.44.

Shares of Bojangles’ (BOJA) traded down 1.49% during trading on Tuesday, reaching $13.20. 232,644 shares of the company were exchanged. The firm’s 50 day moving average price is $14.72 and its 200 day moving average price is $18.00. Bojangles’ has a one year low of $12.85 and a one year high of $22.35. The company has a market capitalization of $488.39 million, a PE ratio of 14.06 and a beta of 1.98.

Bojangles’ (NASDAQ:BOJA) last announced its earnings results on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $135.61 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast 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 company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $17.28, for a total value of $432,000.00. Following the sale, the director now directly owns 65,639 shares of the company’s stock, valued at $1,134,241.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 100,000 shares of company stock worth $1,650,250. 55.30% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. 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 period. 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 during the period. 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 during the period. 91.55% 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.

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