Jack In The Box (NASDAQ:JACK) Price Target Cut to $15.00 by Analysts at Citigroup

Jack In The Box (NASDAQ:JACK) had its price objective lowered by stock analysts at Citigroup from $24.00 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 22.49% from the company’s current price.

JACK has been the topic of a number of other research reports. Barclays upped their price objective on shares of Jack In The Box from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Morgan Stanley cut their price objective on shares of Jack In The Box from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Sanford C. Bernstein set a $23.00 price objective on shares of Jack In The Box in a report on Thursday, February 19th. Zacks Research upgraded shares of Jack In The Box from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Truist Financial upped their target price on shares of Jack In The Box from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.65.

Jack In The Box Trading Down 5.8%

JACK traded down $0.75 during midday trading on Wednesday, reaching $12.25. The company’s stock had a trading volume of 494,346 shares, compared to its average volume of 740,500. The firm has a market capitalization of $233.11 million, a price-to-earnings ratio of -2.00, a PEG ratio of 0.74 and a beta of 1.32. Jack In The Box has a 1 year low of $8.91 and a 1 year high of $29.40. The stock’s 50-day moving average is $13.06 and its 200-day moving average is $17.05.

Jack In The Box (NASDAQ:JACK) last announced its quarterly earnings data on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The business had revenue of $349.52 million during the quarter, compared to analysts’ expectations of $355.73 million. Jack In The Box had a negative return on equity of 7.12% and a negative net margin of 8.69%.Jack In The Box’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. As a group, equities research analysts forecast that Jack In The Box will post 3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JACK. Marshall Wace LLP lifted its stake in shares of Jack In The Box by 192.9% in the third quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator’s stock worth $14,712,000 after buying an additional 490,071 shares in the last quarter. Windward Management LP purchased a new position in shares of Jack In The Box during the fourth quarter valued at approximately $7,394,000. Janus Henderson Group PLC bought a new position in Jack In The Box during the fourth quarter valued at approximately $5,591,000. Nantahala Capital Management LLC lifted its position in Jack In The Box by 44.3% during the fourth quarter. Nantahala Capital Management LLC now owns 865,990 shares of the restaurant operator’s stock valued at $16,411,000 after purchasing an additional 265,990 shares during the period. Finally, Readystate Asset Management LP bought a new position in Jack In The Box during the fourth quarter valued at approximately $4,268,000. Institutional investors own 99.79% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.