Bojangles (BOJA) Stock Rating Lowered by Zacks Investment Research

Bojangles (NASDAQ:BOJA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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

BOJA has been the topic of several other reports. ValuEngine raised Bojangles from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. TheStreet lowered Bojangles from a “b-” rating to a “c+” rating in a research report on Monday, July 30th. BidaskClub raised Bojangles from a “sell” rating to a “hold” rating in a research report on Saturday, August 25th. Finally, KeyCorp initiated coverage on Bojangles in a research report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Bojangles has an average rating of “Hold” and an average target price of $15.86.

Shares of NASDAQ BOJA traded up $0.24 during midday trading on Monday, hitting $16.75. The stock had a trading volume of 212,700 shares, compared to its average volume of 326,684. The firm has a market capitalization of $578.98 million, a P/E ratio of 20.18, a P/E/G ratio of 1.84 and a beta of 1.41. Bojangles has a 1-year low of $11.35 and a 1-year high of $17.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.70 and a quick ratio of 0.64.

Bojangles (NASDAQ:BOJA) last released its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.34 million. Bojangles had a net margin of 11.24% and a return on equity of 9.91%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts expect that Bojangles will post 0.68 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BOJA. Ancora Advisors LLC acquired a new position in Bojangles during the 1st quarter worth approximately $194,000. Tributary Capital Management LLC raised its position in shares of 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 purchasing an additional 77,906 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Bojangles in the 2nd quarter valued at approximately $184,000. IndexIQ Advisors LLC raised its position in shares of 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 purchasing an additional 12,639 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of 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 purchasing an additional 3,675 shares in the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

About Bojangles

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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