Jack in the Box (NASDAQ:JACK) PT Lowered to $56.00

Jack in the Box (NASDAQ:JACK) had its target price lowered by analysts at Deutsche Bank Aktiengesellschaft from $59.00 to $56.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 7.16% from the company’s previous close.

Several other analysts have also recently issued reports on JACK. Royal Bank of Canada cut their price objective on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen decreased their target price on Jack in the Box from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday. UBS Group decreased their target price on Jack in the Box from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday. Oppenheimer lowered their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wedbush reduced their price target on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.61.

Jack in the Box Stock Performance

Shares of JACK stock traded down $0.77 during mid-day trading on Wednesday, reaching $52.26. 840,262 shares of the company were exchanged, compared to its average volume of 486,642. The business’s 50 day simple moving average is $53.33 and its 200 day simple moving average is $61.83. The company has a market capitalization of $1.01 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.76 and a beta of 1.91. Jack in the Box has a fifty-two week low of $46.10 and a fifty-two week high of $96.82.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data 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. The company had revenue of $369.17 million during the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the business earned $1.45 EPS. On average, analysts forecast that Jack in the Box will post 6.29 EPS for the current year.

Insider Activity at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the sale, the chief executive officer now directly owns 90,887 shares in the company, valued at approximately $4,693,404.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 800 shares of company stock worth $41,514 in the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jack in the Box

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares during the period. Quadrant Capital Group LLC increased its position in shares of Jack in the Box by 21.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 276 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Jack in the Box by 2.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock valued at $779,000 after purchasing an additional 277 shares during the period. EntryPoint Capital LLC increased its position in shares of Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 366 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Jack in the Box by 8.8% during the 1st quarter. Inspire Investing LLC now owns 5,796 shares of the restaurant operator’s stock valued at $397,000 after purchasing an additional 471 shares during the period. 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.