Jack in the Box (NASDAQ:JACK) Price Target Lowered to $60.00 at Guggenheim

Jack in the Box (NASDAQ:JACK) had its price target trimmed by Guggenheim from $95.00 to $60.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts also recently weighed in on the stock. Northcoast Research downgraded shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Bank of America increased their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Oppenheimer reduced their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Jack in the Box in a research note on Monday, November 4th. Finally, Barclays reduced their target price on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and an average price target of $60.38.

Jack in the Box Stock Down 0.6 %

Jack in the Box stock opened at $47.50 on Wednesday. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The company 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 firm’s fifty day moving average is $46.34 and its 200 day moving average is $50.18.

Jack in the Box Dividend Announcement

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

Insider Transactions at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Jack in the Box by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after purchasing an additional 358 shares during the last quarter. EntryPoint Capital LLC boosted its stake in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Jack in the Box by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after buying an additional 503 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Jack in the Box by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after buying an additional 644 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Jack in the Box by 4.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after acquiring an additional 790 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

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.