Jack in the Box (JACK) Lifted to “Positive” at OTR Global

Jack in the Box (NASDAQ:JACK) was upgraded by research analysts at OTR Global to a “positive” rating in a note issued to investors on Wednesday, The Fly reports.

Several other brokerages have also issued reports on JACK. Zacks Investment Research lowered Jack in the Box from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 5th. SunTrust Banks set a $109.00 price target on Jack in the Box and gave the company a “buy” rating in a research note on Friday, December 1st. Wedbush lowered Jack in the Box from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $115.00 to $104.00 in a research note on Monday, November 20th. Wells Fargo & Co decreased their price target on Jack in the Box from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Finally, Jefferies Group lowered Jack in the Box from a “buy” rating to a “hold” rating and decreased their price target for the company from $120.00 to $100.00 in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $111.31.

Shares of Jack in the Box (JACK) traded down $1.12 on Wednesday, hitting $81.95. The stock had a trading volume of 449,500 shares, compared to its average volume of 867,017. Jack in the Box has a one year low of $79.30 and a one year high of $113.00. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.51 and a current ratio of 0.53. The company has a market cap of $2,453.24, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings results 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 business had revenue of $338.75 million during the quarter, compared to the consensus estimate of $341.34 million. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. equities analysts expect that Jack in the Box will post 4.02 earnings per share for the current fiscal year.

In related news, VP Dean C. Gordon sold 278 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $102.22, for a total transaction of $28,417.16. Following the sale, the vice president now owns 3,924 shares in the company, valued at approximately $401,111.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul D. Melancon sold 404 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $102.22, for a total value of $41,296.88. Following the sale, the senior vice president now owns 4,946 shares in the company, valued at approximately $505,580.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,671 shares of company stock worth $2,586,928 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its position in shares of 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 valued at $216,000 after buying an additional 30 shares during the last quarter. Royal Bank of Canada grew its position in shares of 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 valued at $126,000 after buying an additional 105 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of 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 valued at $1,654,000 after buying an additional 123 shares during the last quarter. American International Group Inc. grew its position in shares of Jack in the Box by 0.7% in the 3rd quarter. American International Group Inc. now owns 79,718 shares of the restaurant operator’s stock valued at $8,125,000 after buying an additional 557 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Jack in the Box by 36.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,560 shares of the restaurant operator’s stock valued at $261,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

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About Jack in the Box

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.

The Fly

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