UBS Group Cuts Jack in the Box (NASDAQ:JACK) Price Target to $50.00

Jack in the Box (NASDAQ:JACK) had its price objective trimmed by UBS Group from $55.00 to $50.00 in a research note released on Friday, Benzinga reports. The firm currently has a neutral rating on the restaurant operator’s stock.

A number of other research firms also recently issued reports on JACK. TD Cowen restated a hold rating and set a $57.00 target price on shares of Jack in the Box in a research report on Thursday, September 12th. Morgan Stanley reduced their price objective 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. Piper Sandler dropped their target price on shares of Jack in the Box from $60.00 to $56.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Oppenheimer reduced their price target on Jack in the Box from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Jack in the Box from $59.00 to $56.00 and set a hold rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $68.63.

Jack in the Box Trading Down 0.7 %

Shares of NASDAQ JACK opened at $45.15 on Friday. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20. The company has a 50-day moving average of $49.17 and a two-hundred day moving average of $53.77. The company has a market cap of $875.46 million, a PE ratio of 7.95, a P/E/G ratio of 0.70 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. The firm had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. As a group, equities research analysts forecast that Jack in the Box will post 6.22 earnings per share for the current year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s payout ratio is presently 30.99%.

Insiders Place Their Bets

In related news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC grew its position in shares of Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares during the period. Headlands Technologies LLC bought a new position in Jack in the Box during the first quarter worth about $97,000. PNC Financial Services Group Inc. increased its position in Jack in the Box by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after buying an additional 179 shares during the last quarter. SG Americas Securities LLC bought a new stake in Jack in the Box in the third quarter valued at approximately $185,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 valued at $255,000 after buying an additional 503 shares during the period. 99.79% of the stock is owned by institutional investors.

About Jack in the Box

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.