Jack In The Box Inc. (JACK) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $107.00 price target on the stock.
According to Zacks, “Jack in the Box’s Qdoba brand has been driving growth at the company over the past few quarters. However, of late, the company has been experiencing moderated comps growth at its namesake Jack in the Box restaurants due to increased competitive pressure. Even so, the company’s enhanced focus on franchising and rewarding its shareholders through share repurchases and dividends bode well. Also, various sales initiatives like regular menu innovation, increased marketing efforts, remodeling along with offering catering options should drive top-line growth. Meanwhile, the company has a mixed record of earnings surprises in the recent quarters. However, increased marketing initiatives might keep profits under pressure. The company’s fiscal Q4 comps guidance also raises concerns. Estimates too have been going down ahead of its Q4 earnings release.”
Other equities analysts also recently issued research reports about the company. Barclays PLC increased their price target on Jack In The Box from $86.00 to $96.00 and gave the stock an equal weight rating in a research report on Friday, August 5th. Vetr upgraded Jack In The Box from a hold rating to a buy rating and set a $89.00 price target on the stock in a research report on Wednesday, June 8th. Wedbush reiterated an outperform rating and set a $115.00 price target (up previously from $110.00) on shares of Jack In The Box in a research report on Thursday, August 4th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $97.00 price target on shares of Jack In The Box in a research report on Tuesday, August 2nd. Finally, Jefferies Group increased their price target on Jack In The Box from $100.00 to $112.00 and gave the stock a buy rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Jack In The Box presently has a consensus rating of Buy and a consensus price target of $101.53.
Jack In The Box (NASDAQ:JACK) opened at 94.80 on Tuesday. The company has a 50-day moving average price of $98.57 and a 200-day moving average price of $84.07. The stock has a market capitalization of $3.10 billion, a PE ratio of 28.83 and a beta of 0.41. Jack In The Box has a 12-month low of $61.78 and a 12-month high of $102.68.
Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The company had revenue of $368.94 million for the quarter, compared to the consensus estimate of $367.52 million. Jack In The Box had a negative return on equity of 120.29% and a net margin of 7.41%. Jack In The Box’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. Analysts expect that Jack In The Box will post $3.73 earnings per share for the current fiscal year.
In other news, Director David Goebel sold 1,480 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $101.46, for a total value of $150,160.80. Following the transaction, the director now owns 23,377 shares in the company, valued at $2,371,830.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Keith M. Guilbault sold 1,925 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $96.59, for a total value of $185,935.75. Following the completion of the transaction, the insider now owns 16,521 shares in the company, valued at approximately $1,595,763.39. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. increased its position in shares of Jack In The Box by 121.2% in the first quarter. Pacad Investment Ltd. now owns 14,600 shares of the company’s stock worth $933,000 after buying an additional 8,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Jack In The Box by 1.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,922 shares of the company’s stock worth $4,083,000 after buying an additional 1,015 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Jack In The Box during the first quarter worth approximately $342,000. Menta Capital LLC bought a new position in shares of Jack In The Box during the first quarter worth approximately $441,000. Finally, AXA increased its position in shares of Jack In The Box by 2,880.0% in the first quarter. AXA now owns 89,400 shares of the company’s stock worth $5,710,000 after buying an additional 86,400 shares during the last quarter. Hedge funds and other institutional investors own 98.56% of the company’s stock.
About Jack In The Box
Jack in the Box Inc is a restaurant company. The Company operates and franchises approximately 2,910 Jack in the Box quick-service restaurants (QSR) and Qdoba Mexican Eats fast-casual restaurants (Qdoba). Its segments are Jack in the Box and Qdoba Restaurant operations. It operates and franchises approximately 2,250 Jack in the Box restaurants, primarily in the western and southern United States, including one in Guam, over 660 Qdoba restaurants across the United States, and approximately four in Canada.
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