Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a sell rating to a hold rating in a research report report published on Wednesday, October 18th.
According to Zacks, “Jack in the Box makes regular menu innovations and plans to continue focusing on improving guest experience at both brands via operational excellence. The premium and value offerings at Jack in the Box along with focus on breakfast menu to combat competition bode well. It has a mixed record of earnings surprises in recent quarters and estimates have been stable ahead of its fiscal Q4 earnings release. Meanwhile, comps at Qdoba have been suffering due to poor restaurant level execution. A soft industry backdrop and higher costs remain concerns too. Notably, Jack in the Box’s shares have underperformed the industry year-to-date. Nonetheless, expansion of third-party delivery channels at both brands should increase transactions. Efforts to reinvigorate Qdoba along with management’s plan of even considering alternatives to the brand bode well too.”
Other equities analysts have also recently issued reports about the company. Jefferies Group LLC reaffirmed a buy rating and issued a $120.00 price target on shares of Jack In The Box in a research note on Thursday, July 27th. Wedbush reaffirmed a buy rating on shares of Jack In The Box in a research note on Friday, August 11th. Robert W. Baird reaffirmed a buy rating and issued a $115.00 price target on shares of Jack In The Box in a research note on Tuesday, September 19th. TheStreet cut Jack In The Box from a b- rating to a c rating in a research note on Wednesday, August 9th. Finally, Barclays PLC decreased their price target on Jack In The Box from $110.00 to $103.00 and set an equal weight rating on the stock in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $113.38.
Shares of Jack In The Box (JACK) opened at $102.34 on Wednesday. The firm has a market capitalization of $3,021.60, a P/E ratio of 24.57, a P/E/G ratio of 1.56 and a beta of 0.52. Jack In The Box has a 12-month low of $90.89 and a 12-month high of $113.30. The company has a debt-to-equity ratio of -2.56, a current ratio of 0.66 and a quick ratio of 0.63.
Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, August 9th. The restaurant operator reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.06). The firm had revenue of $357.80 million during the quarter, compared to the consensus estimate of $360.84 million. Jack In The Box had a negative return on equity of 37.83% and a net margin of 8.51%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. analysts expect that Jack In The Box will post 4.07 earnings per share for the current fiscal year.
In other news, insider Frances L. Allen sold 530 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $102.71, for a total transaction of $54,436.30. Following the transaction, the insider now directly owns 10,979 shares of the company’s stock, valued at $1,127,653.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in Jack In The Box by 21.5% in the third quarter. Comerica Bank now owns 111,255 shares of the restaurant operator’s stock worth $11,496,000 after acquiring an additional 19,703 shares in the last quarter. Rhumbline Advisers increased its position in Jack In The Box by 10.1% during the third quarter. Rhumbline Advisers now owns 77,173 shares of the restaurant operator’s stock valued at $7,865,000 after acquiring an additional 7,072 shares during the last quarter. Sei Investments Co. increased its position in Jack In The Box by 43.5% during the third quarter. Sei Investments Co. now owns 5,160 shares of the restaurant operator’s stock valued at $525,000 after acquiring an additional 1,563 shares during the last quarter. Jennison Associates LLC purchased a new stake in Jack In The Box in the third quarter worth about $294,000. Finally, State Board of Administration of Florida Retirement System increased its position in Jack In The Box by 7.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 21,273 shares of the restaurant operator’s stock worth $2,168,000 after buying an additional 1,540 shares in the last quarter. 96.17% of the stock is currently owned by institutional investors and hedge funds.
Jack In The Box Company Profile
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.
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