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

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

A number of other brokerages have also recently issued reports on JACK. Truist Financial decreased their price objective on shares of 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. UBS Group decreased their target price on shares of Jack in the Box from $87.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. TD Cowen reiterated a “hold” rating and set a $59.00 price target on shares of Jack in the Box in a report on Thursday, June 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Jack in the Box in a report on Friday, June 7th. Finally, Morgan Stanley lowered their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and a consensus target price of $75.17.

Jack in the Box Trading Up 2.2 %

JACK stock traded up $1.27 during mid-day trading on Tuesday, hitting $59.62. 189,439 shares of the company were exchanged, compared to its average volume of 483,124. The business has a 50 day simple moving average of $52.99 and a 200-day simple moving average of $62.66. The stock has a market capitalization of $1.16 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.75 and a beta of 1.92. Jack in the Box has a 1-year low of $46.10 and a 1-year high of $99.56.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The company had revenue of $365.40 million for the quarter, compared to analysts’ expectations of $369.53 million. During the same period last year, the firm earned $1.47 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts expect that Jack in the Box will post 6.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Darin S. Harris sold 598 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the sale, the chief executive officer now owns 90,887 shares in the company, valued at $4,693,404.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 800 shares of company stock valued at $41,514. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Jack in the Box by 21.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 276 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Jack in the Box by 2.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock worth $779,000 after purchasing an additional 277 shares during the period. EntryPoint Capital LLC increased its holdings in Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after purchasing an additional 366 shares during the period. Finally, Inspire Investing LLC increased its holdings in Jack in the Box by 8.8% during the 1st quarter. Inspire Investing LLC now owns 5,796 shares of the restaurant operator’s stock worth $397,000 after purchasing an additional 471 shares during the period. 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.