Jack in the Box (NASDAQ:JACK) was downgraded by Jefferies Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $100.00 target price on the restaurant operator’s stock, down from their prior target price of $120.00. Jefferies Group’s price target suggests a potential downside of 0.18% from the company’s previous close.
JACK has been the topic of a number of other reports. Wedbush cut Jack in the Box from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $115.00 to $104.00 in a research report on Monday, November 20th. Robert W. Baird reiterated a “buy” rating and set a $115.00 price target on shares of Jack in the Box in a research report on Tuesday, September 19th. Stifel Nicolaus started coverage on Jack in the Box in a research report on Monday, October 2nd. They set a “hold” rating and a $105.00 price target on the stock. BidaskClub cut Jack in the Box from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Telsey Advisory Group upgraded Jack in the Box from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $111.08.
Shares of Jack in the Box (NASDAQ:JACK) traded down $3.27 during midday trading on Wednesday, reaching $100.18. The company’s stock had a trading volume of 1,093,586 shares, compared to its average volume of 677,003. Jack in the Box has a 12-month low of $90.89 and a 12-month high of $113.00. The firm has a market capitalization of $2,953.35, a PE ratio of 25.86, a P/E/G ratio of 1.80 and a beta of 0.51. The company has a debt-to-equity ratio of -2.79, a current ratio of 0.53 and a quick ratio of 0.51.
In related news, VP Dean C. Gordon sold 278 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $102.22, for a total value of $28,417.16. Following the completion of the transaction, the vice president now directly owns 3,924 shares of the company’s stock, valued at approximately $401,111.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leonard A. Comma sold 6,021 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $102.22, for a total value of $615,466.62. Following the completion of the transaction, the chief executive officer now directly owns 173,796 shares of the company’s stock, valued at $17,765,427.12. The disclosure for this sale can be found here. Insiders sold a total of 10,971 shares of company stock valued at $1,121,715 over the last three months. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in Jack in the Box by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,188 shares of the restaurant operator’s stock worth $216,000 after buying an additional 30 shares in the last quarter. Royal Bank of Canada grew its holdings in Jack in the Box by 9.0% in the 2nd quarter. Royal Bank of Canada now owns 1,274 shares of the restaurant operator’s stock worth $126,000 after buying an additional 105 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Jack in the Box by 0.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,790 shares of the restaurant operator’s stock worth $1,654,000 after buying an additional 123 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Jack in the Box by 5.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 2,777 shares of the restaurant operator’s stock worth $274,000 after buying an additional 151 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in Jack in the Box by 3.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,618 shares of the restaurant operator’s stock worth $483,000 after buying an additional 165 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.
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Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.
