Jack in the Box (NASDAQ:JACK) PT Lowered to $50.00

Jack in the Box (NASDAQ:JACK) had its price objective reduced by stock analysts at UBS Group from $55.00 to $50.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s target price suggests a potential upside of 10.74% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler decreased their target price on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Truist Financial reduced their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, Morgan Stanley reduced their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus price target of $68.63.

Jack in the Box Stock Performance

Shares of JACK stock traded down $0.31 during mid-day trading on Friday, hitting $45.15. 735,653 shares of the stock were exchanged, compared to its average volume of 506,057. The stock’s fifty day simple moving average is $49.40 and its two-hundred day simple moving average is $54.07. The stock has a market capitalization of $875.46 million, a price-to-earnings ratio of 7.96, a P/E/G ratio of 0.70 and a beta of 1.94. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The company had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. During the same quarter last year, the company posted $1.45 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, research analysts expect that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in Jack in the Box by 261.5% in the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after acquiring an additional 403,423 shares during the period. Clearline Capital LP boosted 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 purchasing an additional 144,631 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Jack in the Box in the 4th quarter valued at $11,424,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Jack in the Box by 296.5% during the 2nd quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after acquiring an additional 101,064 shares in the last quarter. 99.79% of the stock is 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.