Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $107.00 target price on the stock.
According to Zacks, “Jack in the Box’s Qdoba brand has been driving growth at the company over the past few quarters. However, of late, the company has been experiencing moderated comps growth at its namesake Jack in the Box restaurants due to increased competitive pressure. Even so, the company’s enhanced focus on franchising and rewarding its shareholders through share repurchases and dividends bode well. Also, various sales initiatives like regular menu innovation, increased marketing efforts, remodeling along with offering catering options should drive top-line growth. Meanwhile, the company has a mixed record of earnings surprises in the recent quarters. However, increased marketing initiatives might keep profits under pressure. The company’s fiscal Q4 comps guidance also raises concerns. Estimates too have been going down ahead of its Q4 earnings release.”
A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co. reaffirmed an outperform rating and issued a $90.50 price objective (up previously from $82.50) on shares of Jack In The Box in a research note on Thursday, August 4th. Barclays PLC upped their price objective on shares of Jack In The Box from $86.00 to $96.00 and gave the company an equal weight rating in a research note on Friday, August 5th. Robert W. Baird reaffirmed an outperform rating and issued a $105.00 price objective on shares of Jack In The Box in a research note on Thursday, June 23rd. Vetr cut shares of Jack In The Box from a hold rating to a sell rating and set a $87.97 price objective for the company. in a research note on Monday, July 25th. Finally, Jefferies Group upped their price objective on shares of Jack In The Box from $100.00 to $112.00 and gave the company a buy rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $101.53.
Jack In The Box (NASDAQ:JACK) traded up 0.54% during midday trading on Tuesday, reaching $94.32. 32,162 shares of the company’s stock traded hands. Jack In The Box has a 52-week low of $61.78 and a 52-week high of $102.68. The stock has a market cap of $3.08 billion, a P/E ratio of 28.69 and a beta of 0.41. The company’s 50-day moving average price is $98.31 and its 200-day moving average price is $84.21.
Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.20. The firm had revenue of $368.94 million for the quarter, compared to analyst estimates of $367.52 million. Jack In The Box had a net margin of 7.41% and a negative return on equity of 120.29%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts predict that Jack In The Box will post $3.73 EPS for the current fiscal year.
In related news, insider Keith M. Guilbault sold 1,925 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $96.59, for a total value of $185,935.75. Following the completion of the transaction, the insider now directly owns 16,521 shares in the company, valued at approximately $1,595,763.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Carol A. Diraimo sold 2,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the transaction, the vice president now owns 16,059 shares of the company’s stock, valued at $1,605,900. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of JACK. Squarepoint Ops LLC acquired a new position in shares of Jack In The Box during the first quarter valued at about $1,007,000. Royal Bank of Canada raised its position in shares of Jack In The Box by 172.6% in the first quarter. Royal Bank of Canada now owns 18,848 shares of the company’s stock valued at $1,203,000 after buying an additional 11,933 shares during the last quarter. Thrax Management LLC acquired a new position in shares of Jack In The Box during the first quarter valued at about $8,485,000. Panagora Asset Management Inc. raised its position in shares of Jack In The Box by 13.8% in the first quarter. Panagora Asset Management Inc. now owns 247,766 shares of the company’s stock valued at $15,825,000 after buying an additional 29,972 shares during the last quarter. Finally, Mount Lucas Management LP raised its position in shares of Jack In The Box by 10.8% in the first quarter. Mount Lucas Management LP now owns 3,208 shares of the company’s stock valued at $205,000 after buying an additional 312 shares during the last quarter. Institutional investors own 98.56% of the company’s stock.
Jack In The Box Company Profile
Jack in the Box Inc is a restaurant company. The Company operates and franchises approximately 2,910 Jack in the Box quick-service restaurants (QSR) and Qdoba Mexican Eats fast-casual restaurants (Qdoba). Its segments are Jack in the Box and Qdoba Restaurant operations. It operates and franchises approximately 2,250 Jack in the Box restaurants, primarily in the western and southern United States, including one in Guam, over 660 Qdoba restaurants across the United States, and approximately four in Canada.
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