Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $107.00 price objective 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 analysts have also recently issued reports about the company. Barclays PLC boosted their price target on Jack In The Box from $86.00 to $96.00 and gave the stock an equal weight rating in a 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 report on Wednesday, June 8th. Wedbush restated an outperform rating and set a $115.00 price target (up from $110.00) on shares of Jack In The Box in a report on Thursday, August 4th. Oppenheimer Holdings Inc. restated an outperform rating and set a $97.00 price target on shares of Jack In The Box in a report on Tuesday, August 2nd. Finally, Jefferies Group boosted their price target on Jack In The Box from $100.00 to $112.00 and gave the stock a buy rating in a 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. The company has an average rating of Buy and an average price target of $101.53.
Shares of Jack In The Box (NASDAQ:JACK) opened at 94.75 on Tuesday. The company’s 50-day moving average price is $98.19 and its 200-day moving average price is $84.42. The company has a market capitalization of $3.10 billion, a PE ratio of 28.82 and a beta of 0.41. Jack In The Box has a 1-year low of $61.78 and a 1-year high of $102.68.
Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, August 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.20. Jack In The Box had a negative return on equity of 120.29% and a net margin of 7.41%. The firm had revenue of $368.94 million for the quarter, compared to analysts’ expectations of $367.52 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts expect that Jack In The Box will post $3.73 earnings per share for the current fiscal year.
In other news, CEO Leonard A. Comma sold 67,572 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $96.68, for a total transaction of $6,532,860.96. Following the transaction, the chief executive officer now directly owns 164,710 shares of the company’s stock, valued at $15,924,162.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith M. Guilbault sold 1,925 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $96.59, for a total value of $185,935.75. Following the transaction, the insider now directly owns 16,521 shares in the company, valued at $1,595,763.39. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently modified their holdings of JACK. Seven Eight Capital LLC raised its position in shares of Jack In The Box by 125.0% in the second quarter. Seven Eight Capital LLC now owns 1,800 shares of the company’s stock worth $155,000 after buying an additional 1,000 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Jack In The Box by 58.9% in the second quarter. LS Investment Advisors LLC now owns 1,992 shares of the company’s stock worth $171,000 after buying an additional 738 shares during the last quarter. Capstone Asset Management Co. purchased a new position in shares of Jack In The Box during the second quarter worth $224,000. Pacer Advisors Inc. purchased a new position in shares of Jack In The Box during the second quarter worth $229,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Jack In The Box during the second quarter worth $232,000. 98.56% of the stock is currently owned by institutional investors.
Jack In The Box Company Profile
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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