TD Cowen Cuts Jack In The Box (NASDAQ:JACK) Price Target to $16.00

Jack In The Box (NASDAQ:JACK) had its price target dropped by equities researchers at TD Cowen from $21.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. TD Cowen’s price objective would indicate a potential upside of 11.27% from the stock’s previous close.

A number of other equities analysts have also commented on JACK. Zacks Research upgraded shares of Jack In The Box from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Mizuho upgraded shares of Jack In The Box to a “hold” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada reduced their target price on Jack In The Box from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Jack In The Box in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $20.00 price objective on Jack In The Box in a research report on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.68.

Jack In The Box Price Performance

Jack In The Box stock opened at $14.38 on Thursday. The firm has a market capitalization of $271.54 million, a P/E ratio of -4.17 and a beta of 1.20. The stock has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $19.48. Jack In The Box has a 52-week low of $13.99 and a 52-week high of $50.45.

Jack In The Box (NASDAQ:JACK) last issued its earnings results on Wednesday, November 19th. The restaurant operator reported $0.30 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.16). The firm had revenue of $326.19 million during the quarter, compared to analyst estimates 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%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, equities research analysts predict that Jack In The Box will post 5.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Jack In The Box

A number of institutional investors and hedge funds have recently made changes to their positions in JACK. Royal Bank of Canada boosted its holdings in Jack In The Box by 5.9% in the first quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock valued at $327,000 after acquiring an additional 671 shares during the last quarter. US Bancorp DE raised its holdings in Jack In The Box by 96.7% during the 3rd quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 698 shares during the last quarter. GAMMA Investing LLC lifted its position in Jack In The Box by 165.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,341 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 836 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Jack In The Box by 136.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,318 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 1,336 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Jack In The Box by 21.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,122 shares of the restaurant operator’s stock worth $221,000 after buying an additional 1,449 shares during the period. Institutional investors own 99.79% of the company’s stock.

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.