Analysts at Craig Hallum initiated coverage on Bojangles Inc. (NASDAQ: BOJA) stock, starting the company at Strong-Buy.With a rating of Strong-Buy on the stock, Bojangles Inc. has a 52-week high of $20.47. The one-year price target of $21.11 is above the opening price of $16.18, causing a number of other analysts to report on the stock in recent days. After initiating coverage,, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unheard of.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Yesterday Bojangles Inc. (NASDAQ: BOJA) shares last traded at $16.09, which is an increase of $0.10 over the previous closing price. Opening at $16.18, they varied from $16.01 and $16.24 throughout the day.
Bojangles Inc. (NASDAQ: BOJA) now has a market cap of 584.65M.
49,599 shares traded hands yesterday, 30 percent below the average, out of a total float 10,539,000. Trading volume is likely to increase in the next few days as investors often use increases in trading volume to pinpoint substantial volume accumulation or circulation by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
Traders can make more impactful judgments on trades when they follow the trading habits of professional investors.
With that in mind, Bojangles Inc. (NASDAQ: BOJA) now has a 50-day MA of $16.52 and 200-day MA of $17.07. It has traded in a 52-week range between $13.39 – 20.47 and today’s last price is 0.21% lower than the 52 week high of $20.47.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have grown their earnings by at least 25% over 3 consecutive years.
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