Jack in the Box (NASDAQ:JACK) Price Target Raised to $73.00 at Bank of America

Jack in the Box (NASDAQ:JACK) had its target price lifted by analysts at Bank of America from $72.00 to $73.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s price objective suggests a potential upside of 64.34% from the company’s current price.

A number of other research analysts also recently commented on the stock. UBS Group reduced their price objective on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Barclays reduced their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.25.

Jack in the Box Stock Down 2.3 %

Shares of NASDAQ JACK traded down $1.04 during trading on Tuesday, reaching $44.42. 174,778 shares of the stock were exchanged, compared to its average volume of 502,190. The company has a market capitalization of $861.30 million, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. The business’s 50-day moving average price is $46.98 and its 200 day moving average price is $51.94. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20.

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

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Jack in the Box by 21.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock valued at $9,387,000 after acquiring an additional 23,770 shares during the period. Manning & Napier Advisors LLC bought a new position in Jack in the Box during the 2nd quarter valued at $3,311,000. Seven Eight Capital LP acquired a new position in shares of Jack in the Box during the 1st quarter valued at $1,096,000. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 26.2% in the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after buying an additional 18,874 shares during the period. 99.79% of the stock is currently 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.