Jack In The Box (NASDAQ:JACK) Posts Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Jack In The Box (NASDAQ:JACK) issued its earnings results on Wednesday. The restaurant operator reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16), FiscalAI reports. The firm had revenue of $326.19 million during the quarter, compared to the consensus estimate of $324.23 million. Jack In The Box had a negative net margin of 4.34% and a negative return on equity of 11.31%.

Jack In The Box Stock Performance

JACK traded up $0.13 during mid-day trading on Wednesday, reaching $14.38. 1,297,347 shares of the stock were exchanged, compared to its average volume of 1,033,984. Jack In The Box has a 1 year low of $13.99 and a 1 year high of $50.45. The stock has a market capitalization of $271.54 million, a PE ratio of -4.17 and a beta of 1.20. The company has a 50 day moving average price of $17.79 and a two-hundred day moving average price of $19.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JACK. Marshall Wace LLP grew its position in shares of Jack In The Box by 192.9% during the 3rd quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator’s stock valued at $14,712,000 after acquiring an additional 490,071 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Jack In The Box by 519.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 241,444 shares of the restaurant operator’s stock worth $4,773,000 after purchasing an additional 202,469 shares during the period. Two Sigma Investments LP lifted its stake in Jack In The Box by 186.4% in the third quarter. Two Sigma Investments LP now owns 236,606 shares of the restaurant operator’s stock valued at $4,678,000 after purchasing an additional 154,002 shares during the last quarter. Millennium Management LLC lifted its stake in Jack In The Box by 535.1% in the third quarter. Millennium Management LLC now owns 152,138 shares of the restaurant operator’s stock valued at $3,008,000 after purchasing an additional 128,182 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Jack In The Box by 45.5% during the third quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator’s stock valued at $7,697,000 after purchasing an additional 121,752 shares during the period. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on JACK shares. UBS Group reduced their price objective on Jack In The Box from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday. Mizuho raised shares of Jack In The Box to a “hold” rating in a research report on Tuesday, October 28th. Zacks Research upgraded shares of Jack In The Box from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. TD Cowen lowered their price objective on shares of Jack In The Box from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, August 7th. Finally, Morgan Stanley set a $20.00 price objective on shares of Jack In The Box in a research note on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Jack In The Box currently has a consensus rating of “Hold” and an average target price of $27.63.

About Jack In The Box

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.