The Goldman Sachs Group Cuts Jack In The Box (NASDAQ:JACK) Price Target to $15.00

Jack In The Box (NASDAQ:JACK) had its price objective decreased by research analysts at The Goldman Sachs Group from $17.00 to $15.00 in a report issued on Thursday, MarketBeat reports. The firm currently has a “sell” rating on the restaurant operator’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 8.17% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded Jack In The Box from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Oppenheimer dropped their price objective on shares of Jack In The Box from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus cut their target price on Jack In The Box from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank Of Canada decreased their target price on shares of Jack In The Box from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Finally, Barclays dropped their target price on shares of Jack In The Box from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.37.

Jack In The Box Stock Performance

NASDAQ:JACK traded up $1.95 during trading hours on Thursday, reaching $16.33. The company’s stock had a trading volume of 729,788 shares, compared to its average volume of 1,034,188. The firm has a 50-day simple moving average of $17.71 and a 200-day simple moving average of $19.48. Jack In The Box has a 1 year low of $13.99 and a 1 year high of $50.45. The firm has a market capitalization of $308.43 million, a price-to-earnings ratio of -4.74 and a beta of 1.20.

Jack In The Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, November 19th. The restaurant operator reported $0.30 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.16). Jack In The Box had a negative return on equity of 11.31% and a negative net margin of 4.34%.The company had revenue of $326.19 million during the quarter, compared to analysts’ expectations of $324.23 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Jack In The Box will post 5.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jack In The Box

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its holdings in shares of Jack In The Box by 22.5% in the third quarter. XTX Topco Ltd now owns 54,162 shares of the restaurant operator’s stock worth $1,071,000 after acquiring an additional 9,933 shares during the period. Millennium Management LLC lifted its stake in shares of Jack In The Box by 535.1% in the 3rd quarter. Millennium Management LLC now owns 152,138 shares of the restaurant operator’s stock worth $3,008,000 after purchasing an additional 128,182 shares during the period. Earnest Partners LLC grew its position in Jack In The Box by 5.9% during the third quarter. Earnest Partners LLC now owns 312,842 shares of the restaurant operator’s stock valued at $6,185,000 after buying an additional 17,300 shares during the period. Brevan Howard Capital Management LP increased its holdings in Jack In The Box by 38.8% during the third quarter. Brevan Howard Capital Management LP now owns 45,557 shares of the restaurant operator’s stock valued at $901,000 after buying an additional 12,731 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Jack In The Box by 519.5% in the third quarter. Ameriprise Financial Inc. now owns 241,444 shares of the restaurant operator’s stock worth $4,773,000 after acquiring an additional 202,469 shares during the period. 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.