Bojangles Inc. (BOJA) Price Target Cut to $22.00
Bojangles Inc. (NASDAQ:BOJA) had its price target decreased by research analysts at KeyCorp from $30.00 to $22.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 34.89% from the company’s previous close.
BOJA has been the topic of several other reports. CL King started coverage on shares of Bojangles in a research report on Monday, September 19th. They issued a “strong-buy” rating and a $21.00 price objective on the stock. Craig Hallum assumed coverage on shares of Bojangles in a research report on Tuesday, September 20th. They issued a “strong-buy” rating on the stock. Jefferies Group cut their target price on shares of Bojangles from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of Bojangles from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, TheStreet assumed coverage on shares of Bojangles in a research note on Friday, June 10th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.18.
Bojangles (NASDAQ:BOJA) opened at 16.31 on Monday. Bojangles has a 1-year low of $13.39 and a 1-year high of $19.75. The company’s 50 day moving average is $16.27 and its 200 day moving average is $17.09. The company has a market cap of $592.64 million, a price-to-earnings ratio of 17.54 and a beta of 1.81.
Bojangles (NASDAQ:BOJA) last released its quarterly earnings data 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 net margin of 6.76% and a return on equity of 20.17%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $132.77 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts forecast that Bojangles will post $0.90 EPS for the current year.
In related news, Director William A. Kussell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $16.73, for a total transaction of $418,250.00. Following the completion of the sale, the director now owns 140,896 shares of the company’s stock, valued at approximately $2,357,190.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eric Mcgrew Newman sold 29,125 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $18.27, for a total transaction of $532,113.75. Following the sale, the vice president now directly owns 19,125 shares of the company’s stock, valued at approximately $349,413.75. The disclosure for this sale can be found here. Insiders own 74.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Bojangles by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 20,714 shares of the company’s stock worth $352,000 after buying an additional 336 shares during the period. American Century Companies Inc. acquired a new stake in Bojangles during the second quarter worth about $1,684,000. Panagora Asset Management Inc. acquired a new stake in Bojangles during the second quarter worth about $1,021,000. State Street Corp increased its stake in Bojangles by 2.5% in the second quarter. State Street Corp now owns 109,113 shares of the company’s stock worth $1,849,000 after buying an additional 2,672 shares during the period. Finally, Teachers Advisors Inc. increased its stake in Bojangles by 19.5% in the second quarter. Teachers Advisors Inc. now owns 13,814 shares of the company’s stock worth $234,000 after buying an additional 2,252 shares during the period. 86.79% of the stock is owned by hedge funds and other institutional investors.
Bojangles Company Profile
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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