Jack in the Box (JACK) Downgraded to “Hold” at Jefferies Group

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.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Wednesday, November 29th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.16). Jack in the Box had a net margin of 8.71% and a negative return on equity of 30.55%. The firm had revenue of $338.75 million for the quarter, compared to analyst estimates of $341.34 million. During the same quarter in the previous year, the company earned $1.03 EPS. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. research analysts anticipate that Jack in the Box will post 4.49 EPS for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: “Jack in the Box (JACK) Downgraded to “Hold” at Jefferies Group” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/20/jack-in-the-box-jack-downgraded-to-hold-at-jefferies-group.html.

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.

Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

Leave a Reply