Jefferies Sticks to Its Buy Rating for Bojangles

By Ryan Adsit

Jefferies analyst Andy Barish reiterated a Buy rating on Bojangles (NASDAQ: BOJA) on July 28 and set a price target of $20. The company’s shares closed on Friday at $13.30, close to its 52-week high of $22.35.

According to TipRanks.com, Barish is a 5-star analyst with an average return of 8.9% and a 58.2% success rate. Barish covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Dave & Busters Entertainment, and Papa John’s International.

Currently, the analyst consensus on Bojangles is Moderate Buy and the average price target is $17.75, representing a 33.5% upside.

In a report issued on July 28, Cowen & Co. also reiterated a Buy rating on the stock with a $20 price target.

Based on Bojangles’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $134 million and quarterly net profit of $8.62 million. In comparison, last year the company earned revenue of $132 million and had a net profit of $10.03 million.

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Bojangles’, Inc. operates as a holding company with interests in franchising and operating quick service restaurants. The firm operates restaurants in North Carolina, South Carolina, Georgia, Virginia, Tennessee, Alabama, Florida, Maryland, Kentucky and Pennsylvania, and the District of Columbia.