Bojangles (BOJA) Lowered to Hold at Zacks Investment Research

Bojangles (NASDAQ:BOJA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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

Several other research firms have also recently commented on BOJA. BidaskClub cut Bojangles from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. SunTrust Banks cut Bojangles from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday, November 9th. KeyCorp began coverage on Bojangles in a research note on Wednesday, October 3rd. They set a “sector weight” rating for the company. Finally, ValuEngine raised Bojangles from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.50.

Shares of NASDAQ BOJA opened at $16.08 on Wednesday. Bojangles has a twelve month low of $11.35 and a twelve month high of $17.10. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $604.16 million, a PE ratio of 19.37, a PEG ratio of 1.64 and a beta of 0.92.

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, beating the Zacks’ consensus estimate of $0.15 by $0.06. Bojangles had a return on equity of 9.95% and a net margin of 9.42%. The business had revenue of $138.67 million during the quarter, compared to analysts’ expectations of $136.29 million. As a group, research analysts anticipate that Bojangles will post 0.71 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its stake in Bojangles by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 1,505,072 shares of the restaurant operator’s stock valued at $23,629,000 after acquiring an additional 66,579 shares during the last quarter. Marshall Wace LLP purchased a new stake in Bojangles during the 3rd quarter valued at approximately $3,403,000. Vanguard Group Inc. raised its stake in Bojangles by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,505,072 shares of the restaurant operator’s stock valued at $23,629,000 after acquiring an additional 66,579 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in Bojangles during the 3rd quarter valued at approximately $4,774,000. Finally, Teachers Advisors LLC raised its stake in Bojangles by 19.2% during the 3rd quarter. Teachers Advisors LLC now owns 36,784 shares of the restaurant operator’s stock valued at $578,000 after acquiring an additional 5,921 shares during the last quarter. 90.97% of the stock is owned by hedge funds and other institutional investors.

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.

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