Zacks Investment Research cut shares of Bojangles (NASDAQ:BOJA) from a hold rating to a sell rating in a research note published on Monday morning.
According to Zacks, “Bojangles, Inc. is engaged in owning and operating restaurants. Bojangles’, Inc. is based in North Carolina. “
A number of other research firms have also recently weighed in on BOJA. TheStreet cut Bojangles from a b- rating to a c+ rating in a research report on Monday, July 30th. BidaskClub raised Bojangles from a hold rating to a buy rating in a research report on Wednesday, June 27th. ValuEngine raised Bojangles from a hold rating to a buy rating in a research report on Friday, September 28th. Finally, KeyCorp initiated coverage on Bojangles in a research report on Wednesday, October 3rd. They set a sector weight rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Bojangles currently has an average rating of Hold and a consensus target price of $15.86.
Bojangles (NASDAQ:BOJA) last posted its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). Bojangles had a net margin of 11.24% and a return on equity of 9.91%. The company had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.34 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Bojangles will post 0.68 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in BOJA. Ancora Advisors LLC bought a new position in Bojangles in the 1st quarter valued at $194,000. Tributary Capital Management LLC grew its position in Bojangles by 8.6% in the 2nd quarter. Tributary Capital Management LLC now owns 987,248 shares of the restaurant operator’s stock valued at $14,216,000 after acquiring an additional 77,906 shares during the last quarter. First Trust Advisors LP bought a new position in Bojangles in the 2nd quarter valued at $184,000. IndexIQ Advisors LLC grew its position in Bojangles by 8.7% in the 2nd quarter. IndexIQ Advisors LLC now owns 157,933 shares of the restaurant operator’s stock valued at $2,274,000 after acquiring an additional 12,639 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Bojangles by 27.4% in the 2nd quarter. Rhumbline Advisers now owns 17,111 shares of the restaurant operator’s stock valued at $246,000 after acquiring an additional 3,675 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors.
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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