Bojangles Inc. (BOJA) Sees Large Volume Increase
Bojangles Inc. (NASDAQ:BOJA) shares saw unusually-strong trading volume on Tuesday . Approximately 1,104,407 shares traded hands during mid-day trading, an increase of 809% from the previous session’s volume of 121,440 shares.The stock last traded at $17.32 and had previously closed at $17.90.
A number of analysts have recently issued reports on BOJA shares. Jefferies Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Bojangles in a report on Friday, May 6th. Stephens reiterated an “overweight” rating and issued a $22.00 price objective (up from $20.00) on shares of Bojangles in a report on Friday, May 6th. Bank of America Corp. reiterated a “buy” rating on shares of Bojangles in a report on Friday, May 6th. Zacks Investment Research upgraded shares of Bojangles from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, May 10th. Finally, TheStreet started coverage on shares of Bojangles in a report on Friday, June 10th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $22.18.
The company has a market cap of $623.64 million and a PE ratio of 20.86. The company’s 50-day moving average is $17.37 and its 200-day moving average is $16.62.
Bojangles (NASDAQ:BOJA) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $127.70 million for the quarter, compared to the consensus estimate of $126.07 million. Bojangles’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. Analysts predict that Bojangles Inc. will post $0.90 EPS for the current year.
In related news, CFO M John Jordan sold 19,519 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $17.25, for a total value of $336,702.75. Following the transaction, the chief financial officer now directly owns 19,519 shares in the company, valued at approximately $336,702.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Mcgrew Newman sold 9,387 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $17.04, for a total value of $159,954.48. Following the completion of the transaction, the vice president now owns 9,387 shares in the company, valued at $159,954.48. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Bojangles stock. Garnet Equity Capital Holdings Inc. boosted its position in Bojangles Inc. (NASDAQ:BOJA) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 166,600 shares of the company’s stock after buying an additional 1,600 shares during the period. Bojangles accounts for approximately 3.0% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 15th largest position. Garnet Equity Capital Holdings Inc. owned 0.46% of Bojangles worth $2,644,000 at the end of the most recent reporting period.
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers a range of items for breakfast, lunch, snack, dinner and after dinner. The Company’s breakfast menu includes its Cajun Filet Biscuit. It also offers hand-breaded, bone-in chicken, Chicken Supremes, Homestyle Chicken Tenders, sandwiches and wraps, as well as fixin’s, including its Seasoned Fries, Bo-Tato Rounds, Cajun Pintos and Dirty Rice.
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