Jack in the Box (NASDAQ:JACK) Stock Price Up 5.4% After Analyst Upgrade

Jack in the Box Inc. (NASDAQ:JACK) rose 5.4% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $72.00 to $73.00. Bank of America currently has a buy rating on the stock. Jack in the Box traded as high as $46.93 and last traded at $46.93. Approximately 138,532 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 501,264 shares. The stock had previously closed at $44.51.

Several other analysts have also recently commented on the company. Loop Capital lowered their target price on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler lowered their target price on Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays lowered their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Truist Financial lowered their price target on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley lowered their price target on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.25.

Insider Buying and Selling at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in Jack in the Box by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after acquiring an additional 85,461 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Jack in the Box by 261.5% in the second 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 in the last quarter. Clearline Capital LP boosted its holdings in shares of Jack in the Box by 136.7% during the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after purchasing an additional 144,631 shares during the period. Bank of New York Mellon Corp grew its position in Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after purchasing an additional 18,874 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in Jack in the Box by 10.2% in the 2nd quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock valued at $12,266,000 after buying an additional 22,226 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Trading Up 1.1 %

The company has a market cap of $910.55 million, a PE ratio of 8.27, a P/E/G ratio of 0.63 and a beta of 1.94. The business’s 50-day simple moving average is $46.43 and its 200-day simple moving average is $51.75.

Jack in the Box (NASDAQ:JACK) last released its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. On average, research analysts predict that Jack in the Box Inc. will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.75%. Jack in the Box’s payout ratio is 30.99%.

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.