Jack in the Box (NASDAQ:JACK) Price Target Lowered to $50.00 at TD Cowen

Jack in the Box (NASDAQ:JACK) had its price objective cut by TD Cowen from $57.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. TD Cowen’s price objective points to a potential upside of 7.97% from the stock’s previous close.

A number of other research firms have also commented on JACK. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of 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. UBS Group lowered their price objective on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Wedbush reduced their target price on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.56.

Jack in the Box Stock Performance

Shares of NASDAQ JACK opened at $46.31 on Wednesday. The business has a fifty day moving average of $47.26 and a two-hundred day moving average of $52.39. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The stock has a market cap of $897.95 million, a PE ratio of 8.15, a PEG ratio of 0.63 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last released its quarterly 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 firm had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. During the same period in the previous year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. Analysts predict that Jack in the Box will post 6.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the sale, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC lifted its holdings in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Jack in the Box during the first quarter worth about $97,000. PNC Financial Services Group Inc. lifted its holdings in shares of Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Jack in the Box during the 3rd quarter valued at about $185,000. Finally, Selway Asset Management acquired a new position in shares of Jack in the Box in the 3rd quarter valued at approximately $228,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.