Jack in the Box (NASDAQ:JACK) Stock Rating Lowered by Truist Financial

Jack in the Box (NASDAQ:JACKGet Free Report) was downgraded by analysts at Truist Financial from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $22.00 price target on the restaurant operator’s stock, down from their prior price target of $51.00. Truist Financial’s price objective points to a potential upside of 7.90% from the company’s previous close.

A number of other brokerages have also weighed in on JACK. Stifel Nicolaus set a $32.00 target price on shares of Jack in the Box and gave the company a “buy” rating in a research note on Monday, April 28th. Northcoast Research lowered shares of Jack in the Box from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Monday, May 19th. Sanford C. Bernstein set a $24.00 price objective on Jack in the Box in a research report on Tuesday, April 22nd. Royal Bank of Canada decreased their target price on Jack in the Box from $45.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.79.

View Our Latest Report on JACK

Jack in the Box Price Performance

JACK opened at $20.39 on Tuesday. Jack in the Box has a one year low of $19.40 and a one year high of $60.73. The business has a 50 day simple moving average of $24.94 and a two-hundred day simple moving average of $35.29. The firm has a market capitalization of $384.94 million, a price-to-earnings ratio of -10.46, a PEG ratio of 1.29 and a beta of 1.35.

Jack in the Box (NASDAQ:JACKGet Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $336.70 million during the quarter, compared to analyst estimates of $345.81 million. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, sell-side analysts expect that Jack in the Box will post 5.33 EPS for the current fiscal year.

Institutional Trading of Jack in the Box

A number of institutional investors and hedge funds have recently modified their holdings of JACK. Northern Trust Corp boosted its position in shares of Jack in the Box by 10.7% during the fourth quarter. Northern Trust Corp now owns 219,189 shares of the restaurant operator’s stock valued at $9,127,000 after buying an additional 21,182 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Jack in the Box by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator’s stock valued at $18,170,000 after acquiring an additional 47,851 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Jack in the Box during the 4th quarter valued at about $7,655,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Jack in the Box by 178.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 196,740 shares of the restaurant operator’s stock valued at $8,192,000 after acquiring an additional 126,101 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after acquiring an additional 89,649 shares during the period. Institutional investors own 99.79% of the company’s stock.

About Jack in the Box

(Get Free Report)

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.

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