Jack in the Box (NASDAQ:JACK) Price Target Lowered to $60.00 at UBS Group

Jack in the Box (NASDAQ:JACK) had its price objective decreased by stock analysts at UBS Group from $87.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s price objective indicates a potential upside of 11.52% from the stock’s previous close.

Other research analysts have also issued reports about the company. Royal Bank of Canada upped their price objective on Jack in the Box from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Oppenheimer reiterated an “outperform” rating and issued a $98.00 price objective on shares of Jack in the Box in a research note on Thursday, February 22nd. Barclays cut their price target on Jack in the Box from $86.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, February 23rd. Truist Financial increased their target price on Jack in the Box from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Morgan Stanley dropped their price target on Jack in the Box from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.28.

Jack in the Box Trading Down 2.6 %

Shares of NASDAQ:JACK traded down $1.43 on Thursday, hitting $53.80. The company had a trading volume of 753,269 shares, compared to its average volume of 434,164. The stock has a 50 day moving average price of $64.74 and a 200 day moving average price of $71.23. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 0.67 and a beta of 1.81. Jack in the Box has a 1-year low of $53.71 and a 1-year high of $99.56.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. Jack in the Box had a net margin of 7.03% and a negative return on equity of 17.24%. The firm had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $480.76 million. During the same period in the prior year, the firm earned $2.01 EPS. The business’s revenue was down 7.5% on a year-over-year basis. Sell-side analysts anticipate that Jack in the Box will post 6.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael W. Murphy sold 1,332 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.58, for a total value of $96,676.56. Following the transaction, the director now directly owns 71,035 shares of the company’s stock, valued at approximately $5,155,720.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Jack in the Box by 11.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 499,987 shares of the restaurant operator’s stock valued at $40,814,000 after acquiring an additional 53,294 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Jack in the Box by 54.1% in the third quarter. Envestnet Asset Management Inc. now owns 71,105 shares of the restaurant operator’s stock valued at $4,911,000 after buying an additional 24,955 shares in the last quarter. IPG Investment Advisors LLC acquired a new position in shares of Jack in the Box during the third quarter valued at about $2,222,000. LSV Asset Management raised its holdings in shares of Jack in the Box by 143.7% in the 3rd quarter. LSV Asset Management now owns 571,393 shares of the restaurant operator’s stock worth $39,460,000 after acquiring an additional 336,899 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Jack in the Box by 12.5% in the 3rd quarter. Victory Capital Management Inc. now owns 132,402 shares of the restaurant operator’s stock valued at $9,144,000 after acquiring an additional 14,701 shares in the last quarter. 99.79% of the stock is 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.