Jack in the Box (NASDAQ:JACK) Given New $44.00 Price Target at UBS Group

Jack in the Box (NASDAQ:JACK) had its price target dropped by equities researchers at UBS Group from $50.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s target price suggests a potential upside of 15.39% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Wedbush cut their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Stifel Nicolaus lowered their price target on Jack in the Box from $55.00 to $52.00 and set a “hold” rating for the company in a report on Monday, December 9th. Truist Financial cut their price objective on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Bank of America lifted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus target price of $59.06.

Jack in the Box Stock Performance

NASDAQ:JACK opened at $38.13 on Tuesday. The company’s 50-day simple moving average is $45.27 and its 200-day simple moving average is $47.88. Jack in the Box has a fifty-two week low of $37.01 and a fifty-two week high of $83.75. The stock has a market capitalization of $718.03 million, a P/E ratio of -19.55, a P/E/G ratio of 1.49 and a beta of 1.94.

Insiders Place Their Bets

In related news, SVP Sarah L. Super sold 1,688 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the transaction, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. The trade was a 9.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 2,343 shares of company stock worth $100,601. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JACK. Victory Capital Management Inc. grew its position in shares of 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 valued at $28,408,000 after acquiring an additional 403,423 shares during the period. Invenomic Capital Management LP acquired a new stake in Jack in the Box in the third quarter valued at approximately $11,802,000. Clearline Capital LP increased its position in shares of Jack in the Box by 136.7% in the second 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 in the last quarter. Squarepoint Ops LLC increased its position in shares of Jack in the Box by 296.5% in the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after buying an additional 101,064 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Jack in the Box by 70.9% during the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after buying an additional 89,649 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

About Jack in the Box

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.