Bojangles Inc. (BOJA) Coverage Initiated at CL King
Stock analysts at CL King started coverage on shares of Bojangles Inc. (NASDAQ:BOJA) in a report issued on Monday. The brokerage set a “strong-buy” rating and a $21.00 price target on the stock. CL King’s price objective indicates a potential upside of 31.00% from the stock’s current price.
Several other brokerages also recently commented on BOJA. Zacks Investment Research downgraded Bojangles from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. TheStreet began coverage on Bojangles in a research note on Friday, June 10th. They issued a “hold” rating for the company. Jefferies Group cut their target price on Bojangles from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, August 5th. RBC Capital Markets reiterated a “sector perform” rating and set a $19.00 price target (down previously from $20.00) on shares of Bojangles in a research report on Thursday, August 11th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $16.00 price target (down previously from $17.00) on shares of Bojangles in a research report on Thursday, August 11th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.00.
Shares of Bojangles (NASDAQ:BOJA) opened at 16.03 on Monday. The company has a market capitalization of $582.47 million, a PE ratio of 17.24 and a beta of 1.81. The company has a 50-day moving average price of $16.46 and a 200 day moving average price of $17.08. Bojangles has a one year low of $13.39 and a one year high of $19.75.
Bojangles (NASDAQ:BOJA) last issued its earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Bojangles had a return on equity of 20.17% and a net margin of 6.76%. The business earned $131.60 million during the quarter, compared to the consensus estimate of $132.77 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities analysts anticipate that Bojangles will post $0.90 EPS for the current year.
In other Bojangles news, Director William A. Kussell sold 25,000 shares of Bojangles stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $16.73, for a total value of $418,250.00. Following the transaction, the director now directly owns 140,896 shares of the company’s stock, valued at approximately $2,357,190.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Mcgrew Newman sold 29,125 shares of Bojangles stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $18.27, for a total value of $532,113.75. Following the completion of the transaction, the vice president now directly owns 19,125 shares in the company, valued at $349,413.75. The disclosure for this sale can be found here. Corporate insiders own 74.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BOJA. Frontier Capital Management Co. LLC bought a new position in shares of Bojangles during the second quarter worth approximately $9,110,000. Emerald Acquisition Ltd. bought a new position in shares of Bojangles during the second quarter worth approximately $3,082,000. American Century Companies Inc. bought a new position in shares of Bojangles during the second quarter worth approximately $1,684,000. Oxford Asset Management boosted its position in shares of Bojangles by 104.5% in the second quarter. Oxford Asset Management now owns 161,175 shares of the company’s stock worth $2,732,000 after buying an additional 82,351 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Bojangles during the first quarter worth approximately $1,068,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.
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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