Bojangles’, Inc. (NASDAQ:BOJA) Downgraded to Market Perform at William Blair
William Blair lowered shares of Bojangles’, Inc. (NASDAQ:BOJA) from an outperform rating to a market perform rating in a research note published on Friday, Marketbeat reports. William Blair also issued estimates for Bojangles”s Q4 2017 earnings at $0.22 EPS.
BOJA has been the topic of a number of other reports. BidaskClub cut Bojangles’ from a sell rating to a strong sell rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Bojangles’ from a strong sell rating to a hold rating in a research report on Tuesday, May 9th. TheStreet upgraded 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 issued a $18.00 price target on shares of Bojangles’ in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $23.00 price target on shares of Bojangles’ in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Bojangles’ currently has an average rating of Buy and a consensus price target of $19.44.
Bojangles’ (NASDAQ:BOJA) opened at 13.30 on Friday. The company’s 50-day moving average price is $15.98 and its 200 day moving average price is $18.61. Bojangles’ has a 52 week low of $12.93 and a 52 week high of $22.35. The company has a market capitalization of $492.09 million, a PE ratio of 14.16 and a beta of 2.08.
Bojangles’ (NASDAQ:BOJA) last released its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $135.61 million. Bojangles’ had a return on equity of 17.05% and a net margin of 6.70%. Bojangles”s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, equities research analysts anticipate that Bojangles’ will post $0.90 EPS for the current year.
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In other Bojangles’ news, VP M John Jordan sold 56,289 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $17.84, for a total value of $1,004,195.76. Following the transaction, the vice president now owns 56,289 shares of the company’s stock, valued at $1,004,195.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James R. Kibler sold 25,000 shares of the business’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 completion of the transaction, the director now directly owns 65,639 shares in the company, valued at approximately $1,134,241.92. The disclosure for this sale can be found here. In the last three months, insiders sold 156,289 shares of company stock worth $2,654,446. Insiders own 55.30% of the company’s stock.
Several institutional investors have recently modified their holdings of BOJA. State Street Corp raised its position in shares of Bojangles’ by 12.3% in the fourth quarter. State Street Corp now owns 139,615 shares of the restaurant operator’s stock valued at $2,604,000 after buying an additional 15,303 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Bojangles’ during the fourth quarter valued at about $1,039,000. FMR LLC raised its position in shares of Bojangles’ by 63.2% in the fourth quarter. FMR LLC now owns 968,037 shares of the restaurant operator’s stock valued at $18,054,000 after buying an additional 374,832 shares during the period. Renaissance Technologies LLC raised its position in shares of 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. Finally, Teachers Advisors LLC raised its position in shares of Bojangles’ by 105.8% in the fourth quarter. Teachers Advisors LLC now owns 28,434 shares of the restaurant operator’s stock valued at $530,000 after buying an additional 14,620 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.
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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