Jack In The Box Inc. (NASDAQ:JACK) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a sell rating to a hold rating in a report published on Tuesday morning.
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. It has a mostly positive record of earnings surprises in recent quarters. The premium and value offerings at Jack in the Box along with focus on breakfast menu to combat competition bode well. Yet, 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 Zacks categorized Retail-Restaurants industry year-to-date. Estimates too have moved slightly down ahead of its fiscal third quarter earnings release. 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.”
Several other research firms have also commented on JACK. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $125.00 price target on shares of Jack In The Box in a research report on Friday, May 12th. Jefferies Group LLC reissued a buy rating on shares of Jack In The Box in a research report on Wednesday, May 3rd. Bank of America Corporation reissued a buy rating on shares of Jack In The Box in a research report on Tuesday, May 30th. They noted that the move was a valuation call. TheStreet raised Jack In The Box from a c+ rating to a b- rating in a research report on Thursday, June 15th. Finally, Cowen and Company reissued a market perform rating and set a $105.00 price target (up from $100.00) on shares of Jack In The Box in a research report on Friday, May 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $115.00.
Shares of Jack In The Box (NASDAQ:JACK) traded down 0.10% during mid-day trading on Tuesday, hitting $94.56. 542,713 shares of the stock traded hands. The company has a market cap of $2.78 billion, a P/E ratio of 23.37 and a beta of 0.58. Jack In The Box has a one year low of $86.52 and a one year high of $113.30. The stock has a 50 day moving average price of $101.43 and a 200-day moving average price of $102.69.
Jack In The Box (NASDAQ:JACK) last released its quarterly earnings results on Tuesday, May 16th. The restaurant operator reported $0.98 EPS for the quarter, topping the consensus estimate of $0.91 by $0.07. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $369.36 million. Jack In The Box had a negative return on equity of 49.06% and a net margin of 8.07%. Jack In The Box’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts forecast that Jack In The Box will post $4.19 earnings per share for the current fiscal year.
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In other Jack In The Box news, EVP Phillip H. Rudolph sold 6,908 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $103.64, for a total value of $715,945.12. Following the transaction, the executive vice president now directly owns 99,261 shares of the company’s stock, valued at approximately $10,287,410.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC purchased a new stake in shares of Jack In The Box during the second quarter worth $656,000. Legato Capital Management LLC increased its stake in shares of Jack In The Box by 888.5% in the second quarter. Legato Capital Management LLC now owns 9,618 shares of the restaurant operator’s stock worth $947,000 after buying an additional 8,645 shares during the period. Aperio Group LLC increased its stake in shares of Jack In The Box by 9.6% in the second quarter. Aperio Group LLC now owns 9,287 shares of the restaurant operator’s stock worth $915,000 after buying an additional 813 shares during the period. LS Investment Advisors LLC increased its stake in shares of Jack In The Box by 9.3% in the second quarter. LS Investment Advisors LLC now owns 3,030 shares of the restaurant operator’s stock worth $298,000 after buying an additional 257 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Jack In The Box during the second quarter worth $52,047,000.
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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