Jack in the Box (NASDAQ:JACK) Price Target Cut to $65.00 by Analysts at Royal Bank of Canada

Jack in the Box (NASDAQ:JACK) had its price objective decreased by equities researchers at Royal Bank of Canada from $70.00 to $65.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s target price suggests a potential upside of 39.48% from the company’s previous close.

A number of other brokerages have also issued reports on JACK. Barclays cut their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Oppenheimer decreased their price target on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. StockNews.com downgraded Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Piper Sandler lowered their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Northcoast Research cut Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Jack in the Box presently has a consensus rating of “Hold” and a consensus price target of $62.59.

Jack in the Box Stock Performance

Jack in the Box stock opened at $46.60 on Thursday. The firm has a market capitalization of $891.46 million, a PE ratio of -21.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. The stock’s 50 day moving average price is $46.18 and its 200 day moving average price is $50.28. Jack in the Box has a one year low of $40.84 and a one year high of $86.20.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JACK. UniSuper Management Pty Ltd acquired a new stake in shares of Jack in the Box in the first quarter worth $425,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Jack in the Box by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after purchasing an additional 790 shares during the period. EntryPoint Capital LLC increased its stake in Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 366 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 worth $1,090,000 after buying an additional 644 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Jack in the Box during the 2nd quarter valued at $3,311,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.