Loop Capital Cuts Jack in the Box (NASDAQ:JACK) Price Target to $70.00

Jack in the Box (NASDAQ:JACK) had its target price cut by Loop Capital from $87.00 to $70.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other research analysts also recently issued reports on JACK. StockNews.com downgraded Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Bank of America reduced their target price on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, August 19th. Wedbush reduced their price objective on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lowered their target price on 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. Finally, UBS Group reduced their price target on 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.56.

Jack in the Box Stock Up 0.9 %

Shares of NASDAQ JACK opened at $46.71 on Monday. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20. The stock has a market cap of $905.71 million, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.63 and a beta of 1.94. The company’s fifty day moving average is $47.39 and its 200-day moving average is $52.43.

Jack in the Box (NASDAQ:JACK) last posted its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share 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 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 company posted $1.45 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, research analysts anticipate that Jack in the Box will post 6.22 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently 30.99%.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

A number of institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Jack in the Box in the second quarter valued at about $3,311,000. Seven Eight Capital LP acquired a new position in shares of Jack in the Box in the first quarter valued at about $1,096,000. Allspring Global Investments Holdings LLC increased its position in Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Jack in the Box by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after purchasing an additional 18,874 shares in the last quarter. 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.