Jack in the Box (NASDAQ:JACK) Given “Outperform” Rating at Wedbush

Jack in the Box (NASDAQ:JACK)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report issued on Tuesday, Benzinga reports. They presently have a $68.00 price target on the restaurant operator’s stock. Wedbush’s target price suggests a potential upside of 14.06% from the company’s previous close.

A number of other research firms have also issued reports on JACK. Truist Financial reduced their target price on Jack in the Box from $99.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Oppenheimer decreased their price target on shares of Jack in the Box from $98.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Piper Sandler decreased their price target on shares of Jack in the Box from $81.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Barclays decreased their price objective on shares of Jack in the Box from $80.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Finally, TD Cowen reaffirmed a “hold” rating and set a $59.00 price target on shares of Jack in the Box in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Jack in the Box currently has a consensus rating of “Hold” and a consensus price target of $75.17.

Jack in the Box Stock Performance

JACK stock traded up $1.27 on Tuesday, reaching $59.62. The company had a trading volume of 189,439 shares, compared to its average volume of 483,124. Jack in the Box has a 1 year low of $46.10 and a 1 year high of $99.56. The company’s fifty day moving average is $52.99 and its 200 day moving average is $62.66. The company has a market cap of $1.16 billion, a P/E ratio of 10.54, a PEG ratio of 0.75 and a beta of 1.92.

Jack in the Box (NASDAQ:JACK) last posted its earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The firm had revenue of $365.40 million for the quarter, compared to analyst estimates of $369.53 million. During the same quarter in the prior year, the company earned $1.47 EPS. Jack in the Box’s revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that Jack in the Box will post 6.29 earnings per share for the current year.

Insider Buying and Selling

In other Jack in the Box news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 800 shares of company stock valued at $41,514. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Jack in the Box by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 503 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after buying an additional 130,214 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after buying an additional 18,874 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Jack in the Box by 15,439.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,128 shares of the restaurant operator’s stock worth $261,000 after buying an additional 5,095 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Jack in the Box during the second quarter valued at approximately $3,311,000. 99.79% of the stock is owned by institutional investors.

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.