Jack In The Box Inc. (JACK) Receives “Outperform” Rating from Wedbush
Jack In The Box Inc. (NASDAQ:JACK)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued on Saturday. They presently have a $115.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 21.37% from the stock’s current price.
Several other analysts also recently commented on JACK. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $90.50 target price (up previously from $82.50) on shares of Jack In The Box in a report on Thursday, August 4th. Barclays PLC lifted their target price on shares of Jack In The Box from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $105.00 target price on shares of Jack In The Box in a report on Thursday, June 23rd. Vetr downgraded shares of Jack In The Box from a “hold” rating to a “sell” rating and set a $87.97 target price for the company. in a report on Monday, July 25th. Finally, Jefferies Group lifted their target price on shares of Jack In The Box from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.53.
Shares of Jack In The Box (NASDAQ:JACK) opened at 94.75 on Friday. Jack In The Box has a 1-year low of $61.78 and a 1-year high of $102.68. The company has a market capitalization of $3.10 billion, a PE ratio of 28.82 and a beta of 0.41. The stock’s 50 day moving average is $98.19 and its 200 day moving average is $84.42.
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Jack In The Box (NASDAQ:JACK) last announced its earnings results on Wednesday, August 3rd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.87 by $0.20. The business earned $368.94 million during the quarter, compared to the consensus estimate of $367.52 million. Jack In The Box had a net margin of 7.41% and a negative return on equity of 120.29%. Jack In The Box’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, equities research analysts anticipate 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 company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $96.59, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Goebel sold 1,480 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $101.46, for a total transaction of $150,160.80. Following the transaction, the director now owns 23,377 shares of the company’s stock, valued at $2,371,830.42. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Cortina Asset Management LLC boosted its position in Jack In The Box by 29.8% in the second quarter. Cortina Asset Management LLC now owns 385,056 shares of the company’s stock worth $33,084,000 after buying an additional 88,383 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new position in Jack In The Box during the second quarter worth about $473,000. Suvretta Capital Management LLC bought a new position in Jack In The Box during the first quarter worth about $30,683,000. Mount Lucas Management LP boosted its position in 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 worth $205,000 after buying an additional 312 shares in the last quarter. Finally, Falcon Point Capital LLC boosted its position in Jack In The Box by 1.6% in the second quarter. Falcon Point Capital LLC now owns 147,332 shares of the company’s stock worth $12,659,000 after buying an additional 2,315 shares in the last quarter. Institutional investors and hedge funds own 98.56% of the company’s stock.
About Jack In The Box
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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