Analysts Set Jack in the Box Inc. (NASDAQ:JACK) Price Target at $62.00

Jack in the Box Inc. (NASDAQ:JACK) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $60.38.

A number of analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $60.00 price target on shares of Jack in the Box in a research report on Thursday. UBS Group dropped 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. The Goldman Sachs Group reduced their price target on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Piper Sandler lowered their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Loop Capital cut their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 14th.

Jack in the Box Price Performance

Shares of Jack in the Box stock opened at $47.50 on Friday. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The firm has a market cap of $908.49 million, a price-to-earnings ratio of -24.36, a PEG ratio of 1.49 and a beta of 1.93. The company has a 50-day moving average of $46.34 and a 200 day moving average of $50.15.

Jack in the Box Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 12th. Jack in the Box’s payout ratio is currently -90.26%.

Insider Buying and Selling at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the business’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 sale, the chief financial officer now directly 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 filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JACK. Allspring Global Investments Holdings LLC raised its holdings in Jack in the Box by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after purchasing an additional 85,461 shares during the period. Victory Capital Management Inc. increased its position in Jack in the Box by 261.5% in the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after buying an additional 403,423 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Jack in the Box by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 388,510 shares of the restaurant operator’s stock worth $18,081,000 after buying an additional 8,038 shares during the period. Clearline Capital LP lifted its position in shares of Jack in the Box by 4.1% during 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 in the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Jack in the Box during the 3rd quarter valued at approximately $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.