Jack in the Box (NASDAQ:JACK) Earns “Hold” Rating from TD Cowen

Jack in the Box (NASDAQ:JACK)‘s stock had its “hold” rating restated by equities research analysts at TD Cowen in a note issued to investors on Thursday,Benzinga reports. They currently have a $50.00 price target on the restaurant operator’s stock. TD Cowen’s price objective suggests a potential upside of 5.26% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research note on Monday, October 21st. UBS Group lowered their target price on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Oppenheimer cut their price target on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Bank of America boosted their price objective on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler reduced their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Jack in the Box presently has a consensus rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Stock Performance

Shares of JACK opened at $47.50 on Thursday. The stock has a 50 day moving average price of $46.34 and a 200 day moving average price of $50.21. Jack in the Box has a one year low of $40.84 and a one year high of $86.20. The stock has a market capitalization of $908.68 million, a price-to-earnings ratio of -23.87, a PEG ratio of 1.06 and a beta of 1.93.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in shares of Jack in the Box by 13.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after acquiring an additional 85,461 shares during the period. Victory Capital Management Inc. increased its holdings 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. Charles Schwab Investment Management Inc. raised its position in Jack in the Box by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock valued at $18,081,000 after purchasing an additional 8,038 shares in the last quarter. Clearline Capital LP boosted its stake in shares of Jack in the Box by 4.1% in the 3rd quarter. Clearline Capital LP now owns 260,730 shares of the restaurant operator’s stock valued at $12,134,000 after buying an additional 10,304 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in shares of Jack in the Box during the third quarter worth about $11,802,000. Hedge funds and other institutional investors 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.