Jack in the Box Upgraded to “Outperform” at Wedbush (JACK)
Jack in the Box (NASDAQ:JACK) was upgraded by investment analysts at Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $50.00. Wedbush’s price objective would suggest a potential upside of 29.09% from the stock’s previous close.
The analysts wrote, “We are upgrading shares of JACK to OUTPERFORM from NEUTRAL based on our belief that 1) Qdoba is now positioned as a legitimate growth company and could command an upward revaluation, 2) our expectation for continued improvement in JIB profitability that is already second only to MCD within the QSR Burger category, and 3) our expectation that both FQ1 and FY14 consensus estimates are poised for upward revisions driven by both Qdoba and JIB outperformance.”
Shares of Jack in the Box (NASDAQ:JACK) traded up 2.22% during mid-day trading on Thursday, hitting $47.51. The stock had a trading volume of 124,771 shares. Jack in the Box has a 52 week low of $27.25 and a 52 week high of $48.90. The stock has a 50-day moving average of $43.18 and a 200-day moving average of $40.41. The company has a market cap of $2.023 billion and a P/E ratio of 40.81.
Jack in the Box (NASDAQ:JACK) last released its earnings data on Thursday, November 21st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $336.28 million. During the same quarter last year, the company posted $0.27 earnings per share. Jack in the Box’s revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that Jack in the Box will post $2.24 earnings per share for the current fiscal year.
A number of other firms have also recently commented on JACK. Analysts at Wunderlich raised their price target on shares of Jack in the Box from $46.00 to $53.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Jack in the Box from $47.00 to $53.00 in a research note to investors on Friday, November 22nd. Finally, analysts at Susquehanna reiterated a “hold” rating on shares of Jack in the Box in a research note to investors on Friday, November 22nd. They now have a $39.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.47.
In other Jack in the Box news, COO Leonard Comma sold 43,465 shares of Jack in the Box stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $46.58, for a total transaction of $2,024,599.70. Following the transaction, the chief operating officer now directly owns 71,497 shares of the company’s stock, valued at approximately $3,330,330. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Jack in the Box Inc operates and franchises more than 2,800 Jack in the Box quick-service restaurants (NASDAQ:JACK) and Qdoba Mexican Grill fast-casual restaurants.
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