Oppenheimer Lowers Jack in the Box (NASDAQ:JACK) Price Target to $60.00

Jack in the Box (NASDAQ:JACK) had its price objective decreased by investment analysts at Oppenheimer from $70.00 to $60.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price objective would suggest a potential upside of 34.05% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on JACK. Wedbush reduced their target price on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Truist Financial decreased their price objective on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Northcoast Research lowered shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday. UBS Group reduced their price target on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Stock Performance

JACK opened at $44.76 on Friday. The stock has a market capitalization of $856.08 million, a price-to-earnings ratio of -22.49, a PEG ratio of 0.70 and a beta of 1.93. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The company has a fifty day moving average of $46.00 and a 200 day moving average of $50.47.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction on Thursday, August 29th. The stock was 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 of the company’s stock, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors have recently made changes to their positions in JACK. Barclays PLC lifted its stake in Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after acquiring an additional 89,649 shares during the period. MML Investors Services LLC raised its holdings in shares of Jack in the Box by 20.3% in the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 819 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Jack in the Box in the 3rd quarter worth approximately $429,000. EP Wealth Advisors LLC bought a new position in shares of Jack in the Box during the third quarter valued at approximately $372,000. Finally, Stifel Financial Corp increased its holdings in Jack in the Box by 111.6% during the third quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock valued at $3,802,000 after buying an additional 43,086 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.