Jack in the Box Inc. (NASDAQ:JACK) Receives $69.35 Average Price Target from Brokerages

Shares of Jack in the Box Inc. (NASDAQ:JACK) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $69.35.

A number of brokerages recently commented on JACK. StockNews.com downgraded shares of Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Oppenheimer cut their price target on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Wedbush decreased their price objective on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial cut their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Jack in the Box in a report on Thursday, June 13th. They issued a “sell” rating and a $55.00 target price for the company.

Insider Buying and Selling at Jack in the Box

In other news, CEO Darin S. Harris sold 598 shares of Jack in the Box stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the sale, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,348 shares of company stock worth $67,476. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Jack in the Box

Several large investors have recently made changes to their positions in JACK. Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after purchasing an additional 130,214 shares during the last quarter. Victory Capital Management Inc. grew its position in 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 period. Massachusetts Financial Services Co. MA raised its stake in shares of Jack in the Box by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 358,800 shares of the restaurant operator’s stock valued at $29,289,000 after buying an additional 1,968 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Jack in the Box by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 347,303 shares of the restaurant operator’s stock valued at $28,350,000 after buying an additional 15,061 shares during the last quarter. Finally, Clearline Capital LP lifted its holdings in shares of Jack in the Box by 136.7% in the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after buying an additional 144,631 shares during the period. 99.79% of the stock is owned by hedge funds and other institutional investors.

Jack in the Box Price Performance

JACK stock opened at $41.98 on Friday. Jack in the Box has a 1-year low of $41.03 and a 1-year high of $86.20. The business has a 50-day moving average price of $51.91 and a 200 day moving average price of $57.22. The company has a market capitalization of $813.99 million, a P/E ratio of 7.39, a PEG ratio of 0.71 and a beta of 1.95.

Jack in the Box (NASDAQ:JACK) last posted its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, beating 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 business had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. During the same quarter last year, the firm posted $1.45 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, analysts anticipate that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, August 30th. Jack in the Box’s dividend payout ratio is presently 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.