Barclays Cuts Jack in the Box (NASDAQ:JACK) Price Target to $24.00

Jack in the Box (NASDAQ:JACK) had its price target cut by Barclays from $40.00 to $24.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

Several other brokerages have also recently weighed in on JACK. Morgan Stanley lowered their price target on shares of Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada reduced their price objective on shares of Jack in the Box from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 price target on shares of Jack in the Box in a report on Thursday, February 27th. Truist Financial decreased their price objective on Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer reduced their target price on Jack in the Box from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

Jack in the Box Price Performance

JACK stock opened at $23.97 on Tuesday. The company has a market capitalization of $452.03 million, a PE ratio of -12.29, a P/E/G ratio of 1.29 and a beta of 1.81. Jack in the Box has a 12 month low of $22.01 and a 12 month high of $60.73. The firm’s 50-day moving average is $30.22 and its 200 day moving average is $39.09.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.21. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. The firm had revenue of $469.44 million during the quarter, compared to the consensus estimate of $470.47 million. Sell-side analysts forecast that Jack in the Box will post 5.33 EPS for the current fiscal year.

Jack in the Box Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.76 annualized dividend and a dividend yield of 7.34%. Jack in the Box’s dividend payout ratio (DPR) is -82.63%.

Hedge Funds Weigh In On Jack in the Box

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Jack in the Box by 3.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator’s stock worth $30,244,000 after acquiring an additional 25,881 shares during the last quarter. IPG Investment Advisors LLC lifted its position in Jack in the Box by 59.2% during the fourth quarter. IPG Investment Advisors LLC now owns 440,619 shares of the restaurant operator’s stock worth $18,347,000 after buying an additional 163,834 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Jack in the Box by 12.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator’s stock worth $18,170,000 after buying an additional 47,851 shares during the last quarter. Invenomic Capital Management LP grew its holdings in Jack in the Box by 40.7% in the 4th quarter. Invenomic Capital Management LP now owns 356,757 shares of the restaurant operator’s stock valued at $14,855,000 after buying an additional 103,176 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Jack in the Box by 10.7% during the 4th quarter. Northern Trust Corp now owns 219,189 shares of the restaurant operator’s stock worth $9,127,000 after acquiring an additional 21,182 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.