Bojangles (BOJA) Shares Down 5.7%

Bojangles Inc (NASDAQ:BOJA) shares fell 5.7% during trading on Monday . The company traded as low as $11.45 and last traded at $11.55. 1,061,700 shares traded hands during mid-day trading, an increase of 231% from the average session volume of 320,784 shares. The stock had previously closed at $12.25.

A number of brokerages have weighed in on BOJA. Stifel Nicolaus began coverage on Bojangles in a research report on Monday, October 2nd. They issued a “hold” rating and a $16.00 price target for the company. Royal Bank of Canada reduced their price target on Bojangles from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, November 2nd. Cowen cut Bojangles from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a research report on Friday, October 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $17.00 price target on shares of Bojangles in a research report on Friday, November 3rd. Finally, TheStreet cut Bojangles from a “c-” rating to a “d+” rating in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.50.

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.64 and a quick ratio of 0.56. The firm has a market cap of $439.27 and a PE ratio of 13.78.

Bojangles (NASDAQ:BOJA) last posted its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Bojangles had a return on equity of 15.11% and a net margin of 6.13%. The business had revenue of $133.40 million during the quarter, compared to analysts’ expectations of $133.88 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up .2% compared to the same quarter last year. research analysts predict that Bojangles Inc will post 0.78 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP lifted its position in shares of Bojangles by 27.3% during the 3rd quarter. OxFORD Asset Management LLP now owns 145,482 shares of the restaurant operator’s stock worth $1,993,000 after purchasing an additional 31,167 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Bojangles by 60.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 507,073 shares of the restaurant operator’s stock valued at $6,846,000 after acquiring an additional 190,369 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Bojangles by 5.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 76,212 shares of the restaurant operator’s stock valued at $1,029,000 after acquiring an additional 4,195 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Bojangles by 23.1% in the 3rd quarter. Wells Fargo & Company MN now owns 92,341 shares of the restaurant operator’s stock valued at $1,247,000 after acquiring an additional 17,317 shares in the last quarter. Finally, Amica Pension Fund Board of Trustees acquired a new position in Bojangles in the 3rd quarter valued at approximately $785,000. 89.55% of the stock is owned by institutional investors and hedge funds.

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About Bojangles

Bojangles’, Inc is a restaurant operator and franchisor. The Company offers food made from its Southern recipes. The Company’s menu includes its made-from-scratch, buttermilk biscuits baked fresh every 20 minutes; its fresh, never-frozen bone-in fried chicken; its fixin’s; its Bo-Smart menu featuring items, such as salads, grilled chicken sandwiches, roasted chicken bites and fat-free green beans; its freshly baked and delicious sweets menu, and its Legendary Iced Tea.

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