The quick-service chicken and biscuit restaurant chain received just three buy ratings, with many more analysts calling the stock a hold, TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.
Cramer attributed the lack of enthusiasm that's usually present for newly public companies to the fact Bojangles has performed so well lately. Despite today's decline, the stock is still up nearly 40% from its initial public offering price of $19.
However, Cramer doesn't want you to stick with Bojangles, he prefers another quick-service chicken and biscuits operator: "I would actually swap out of Bojangles' and into Popeye's Louisiana Kitchen (PLKI)." Popeye's just reported a "fantastic" quarter, too, he added.