Jack in the Box (NASDAQ:JACK) Price Target Cut to $46.00

Jack in the Box (NASDAQ:JACK) had its price objective dropped by analysts at Barclays from $57.00 to $46.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price objective indicates a potential downside of 1.01% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. TD Cowen lowered their price target on Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Loop Capital lowered their price target on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. UBS Group lowered their price target on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Wedbush lowered their price target on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.25.

Jack in the Box Trading Up 4.4 %

Shares of JACK stock opened at $46.47 on Tuesday. Jack in the Box has a 12 month low of $40.84 and a 12 month high of $86.20. The stock has a market cap of $901.05 million, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. The company’s fifty day moving average price is $46.75 and its 200-day moving average price is $51.82.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The firm had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. During the same quarter in the previous year, the business posted $1.45 EPS. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts forecast that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock valued at $9,387,000 after acquiring an additional 23,770 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Jack in the Box during the 2nd quarter valued at approximately $3,311,000. Seven Eight Capital LP bought a new position in shares of Jack in the Box during the 1st quarter valued at approximately $1,096,000. Allspring Global Investments Holdings LLC grew its stake in shares of Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Jack in the Box by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after acquiring an additional 18,874 shares during the period. 99.79% of the stock is currently owned by institutional investors.

Jack in the Box Company Profile

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.