Jack In The Box Inc. (JACK) Lowered to Hold at Zacks Investment Research
Jack In The Box Inc. (NASDAQ:JACK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday.
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 mostly going down ahead of its Q4 earnings release.”
Several other analysts have also commented on JACK. Wells Fargo & Co. reissued an “outperform” rating and set a $90.50 target price (up from $82.50) on shares of Jack In The Box in a research note on Thursday, August 4th. Barclays PLC increased their target price 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 reissued an “outperform” rating and set a $105.00 target price on shares of Jack In The Box in a research note on Thursday, June 23rd. Vetr lowered 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 research note on Monday, July 25th. Finally, Jefferies Group increased their target price 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Jack In The Box presently has an average rating of “Buy” and a consensus price target of $101.53.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/jack-in-the-box-inc-jack-lowered-to-hold-at-zacks-investment-research.html
Shares of Jack In The Box (NASDAQ:JACK) traded up 0.29% during trading on Monday, hitting $95.81. 111,627 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $97.73 and its 200 day moving average is $85.42. The firm has a market capitalization of $3.13 billion, a PE ratio of 29.14 and a beta of 0.41. Jack In The Box has a 1-year low of $61.78 and a 1-year high of $102.68.
Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, August 3rd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.87 by $0.20. Jack In The Box had a net margin of 7.41% and a negative return on equity of 120.29%. The business earned $368.94 million during the quarter, compared to analyst estimates of $367.52 million. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Jack In The Box will post $3.73 earnings per share for the current year.
In other news, insider Keith M. Guilbault sold 1,925 shares of the stock in a transaction 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 transaction, the insider now 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 is accessible through the SEC website. Also, Director David Goebel sold 1,480 shares of the stock in a transaction 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 in the company, valued at approximately $2,371,830.42. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in JACK. Wells Fargo & Company MN increased its stake in Jack In The Box by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,062,735 shares of the company’s stock valued at $158,233,000 after buying an additional 52,014 shares in the last quarter. Eagle Asset Management purchased a new stake in Jack In The Box during the third quarter valued at about $63,166,000. Eagle Asset Management Inc. increased its stake in Jack In The Box by 14.3% in the second quarter. Eagle Asset Management Inc. now owns 655,089 shares of the company’s stock valued at $56,285,000 after buying an additional 82,066 shares in the last quarter. Voya Investment Management LLC increased its stake in Jack In The Box by 7.4% in the fourth quarter. Voya Investment Management LLC now owns 598,602 shares of the company’s stock valued at $45,919,000 after buying an additional 41,128 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Jack In The Box by 26.9% in the fourth quarter. Schroder Investment Management Group now owns 565,695 shares of the company’s stock valued at $43,394,000 after buying an additional 119,900 shares in the last quarter. Institutional investors own 98.44% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jack In The Box Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack In The Box Inc. and related companies with MarketBeat.com's FREE daily email newsletter.