Jack in the Box (NASDAQ:JACK) Price Target Cut to $60.00 by Analysts at Guggenheim

Jack in the Box (NASDAQ:JACK) had its price objective lowered by Guggenheim from $95.00 to $60.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on JACK. Loop Capital dropped their price target on shares of 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. Truist Financial dropped their price target on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wedbush dropped their price objective on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 18th. TD Cowen dropped their price objective on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Jack in the Box presently has a consensus rating of “Hold” and an average target price of $60.38.

Jack in the Box Price Performance

Shares of JACK stock opened at $47.50 on Wednesday. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20. The firm has a market cap of $908.49 million, a PE ratio of -24.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The company has a 50-day moving average of $46.34 and a two-hundred day moving average of $50.18.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be issued a $0.44 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.71%. Jack in the Box’s dividend payout ratio is presently -90.26%.

Insider Activity

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after purchasing an additional 85,461 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Jack in the Box by 261.5% during the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Jack in the Box by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after purchasing an additional 8,038 shares during the last quarter. Clearline Capital LP boosted its stake in shares of Jack in the Box by 4.1% during the 3rd quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock worth $12,134,000 after purchasing an additional 10,304 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box in the third quarter worth approximately $11,802,000. 99.79% of the stock is currently owned by hedge funds and other 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.