Jack in the Box (NASDAQ:JACK) Rating Increased to Outperform at Cowen

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Cowen upgraded shares of Jack in the Box (NASDAQ:JACK) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, AnalystRatings.com reports. The brokerage currently has $102.00 price target on the restaurant operator’s stock, up from their previous price target of $91.00.

Several other analysts also recently issued reports on the company. Credit Suisse Group restated a sell rating and issued a $78.00 price objective on shares of Jack in the Box in a research report on Sunday, November 24th. SunTrust Banks reduced their price objective on Jack in the Box to $98.00 and set a buy rating on the stock in a research report on Friday, November 22nd. ValuEngine upgraded Jack in the Box from a sell rating to a hold rating in a research report on Wednesday, November 20th. BidaskClub upgraded Jack in the Box from a sell rating to a hold rating in a research report on Friday, January 3rd. Finally, Wedbush restated a buy rating and issued a $105.00 price objective on shares of Jack in the Box in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $94.82.

Jack in the Box stock opened at $88.31 on Tuesday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.60 and a beta of 0.25. Jack in the Box has a fifty-two week low of $70.77 and a fifty-two week high of $93.12. The stock’s fifty day moving average is $81.47 and its two-hundred day moving average is $83.39.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, November 20th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.01). Jack in the Box had a net margin of 9.94% and a negative return on equity of 18.08%. The company had revenue of $221.24 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts anticipate that Jack in the Box will post 4.53 earnings per share for the current fiscal year.

In related news, CEO Leonard A. Comma sold 20,231 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.26, for a total transaction of $1,563,047.06. Following the transaction, the chief executive officer now directly owns 193,413 shares in the company, valued at $14,943,088.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leonard A. Comma sold 5,960 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $85.52, for a total value of $509,699.20. Following the transaction, the chief executive officer now owns 157,508 shares in the company, valued at $13,470,084.16. The disclosure for this sale can be found here. Insiders have sold 66,016 shares of company stock worth $5,260,022 over the last quarter. 2.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. lifted its position in Jack in the Box by 11.5% during the third quarter. First Mercantile Trust Co. now owns 1,269 shares of the restaurant operator’s stock worth $116,000 after buying an additional 131 shares during the period. Dupont Capital Management Corp lifted its position in Jack in the Box by 10.2% during the third quarter. Dupont Capital Management Corp now owns 2,250 shares of the restaurant operator’s stock worth $205,000 after buying an additional 209 shares during the period. 6 Meridian lifted its position in Jack in the Box by 4.2% during the fourth quarter. 6 Meridian now owns 7,047 shares of the restaurant operator’s stock worth $550,000 after buying an additional 283 shares during the period. Synovus Financial Corp lifted its position in Jack in the Box by 7.8% during the fourth quarter. Synovus Financial Corp now owns 4,230 shares of the restaurant operator’s stock worth $329,000 after buying an additional 305 shares during the period. Finally, Amalgamated Bank increased its stake in Jack in the Box by 7.5% during the fourth quarter. Amalgamated Bank now owns 4,407 shares of the restaurant operator’s stock worth $344,000 after acquiring an additional 308 shares during the last quarter.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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