BidaskClub Upgrades Jack In The Box Inc. (NASDAQ:JACK) to Hold
Jack In The Box Inc. (NASDAQ:JACK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
Several other analysts have also recently weighed in on JACK. Zacks Investment Research raised shares of Jack In The Box from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Jack In The Box in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Jack In The Box in a report on Friday, May 12th. Cowen and Company reaffirmed a “hold” rating and issued a $100.00 target price on shares of Jack In The Box in a report on Friday, May 12th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Jack In The Box in a report on Sunday, May 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Jack In The Box has a consensus rating of “Buy” and an average price target of $116.23.
Jack In The Box (NASDAQ JACK) traded down 0.26% on Tuesday, hitting $94.87. 467,298 shares of the company traded hands. The stock’s 50-day moving average is $98.26 and its 200 day moving average is $101.80. Jack In The Box has a 12 month low of $86.51 and a 12 month high of $113.30. The firm has a market capitalization of $2.79 billion, a P/E ratio of 23.44 and a beta of 0.57.
Jack In The Box (NASDAQ:JACK) last issued its earnings results on Tuesday, May 16th. The restaurant operator reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The firm had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $369.36 million. Jack In The Box had a net margin of 8.07% and a negative return on equity of 49.06%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts forecast that Jack In The Box will post $4.17 EPS for the current fiscal year.
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In other news, EVP Phillip H. Rudolph sold 6,908 shares of Jack In The Box stock in a transaction on Monday, May 22nd. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Jack In The Box by 20,582.3% in the first quarter. BlackRock Inc. now owns 3,274,426 shares of the restaurant operator’s stock worth $333,074,000 after buying an additional 3,258,594 shares during the last quarter. Credit Suisse AG boosted its position in shares of Jack In The Box by 514.2% in the first quarter. Credit Suisse AG now owns 943,680 shares of the restaurant operator’s stock worth $95,990,000 after buying an additional 790,044 shares during the last quarter. FMR LLC boosted its position in shares of Jack In The Box by 72.6% in the first quarter. FMR LLC now owns 1,283,344 shares of the restaurant operator’s stock worth $130,542,000 after buying an additional 539,805 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Jack In The Box during the second quarter worth approximately $52,047,000. Finally, Janus Capital Management LLC boosted its position in shares of Jack In The Box by 75.6% in the first quarter. Janus Capital Management LLC now owns 502,178 shares of the restaurant operator’s stock worth $51,082,000 after buying an additional 216,234 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.
About Jack In The Box
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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