Jack in the Box (NASDAQ:JACK) Lowered to Hold at BidaskClub

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Jack in the Box (NASDAQ:JACK) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday, BidAskClub reports.

Several other equities analysts have also recently issued reports on JACK. Cowen reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Jack in the Box in a research report on Tuesday, February 19th. Gordon Haskett raised Jack in the Box from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Wedbush reiterated a “hold” rating and set a $85.00 target price on shares of Jack in the Box in a research note on Tuesday, April 9th. Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 target price (down from $105.00) on shares of Jack in the Box in a research note on Tuesday, April 16th. Finally, ValuEngine lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $92.50.

JACK stock opened at $86.36 on Monday. The company has a market capitalization of $2.21 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.37. Jack in the Box has a 12-month low of $74.19 and a 12-month high of $93.98.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, May 15th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The business had revenue of $215.73 million for the quarter, compared to analysts’ expectations of $217.99 million. Jack in the Box had a negative return on equity of 19.41% and a net margin of 13.85%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities analysts anticipate that Jack in the Box will post 4.25 earnings per share for the current fiscal year.

In other news, VP Carol A. Diraimo sold 590 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $82.02, for a total value of $48,391.80. Following the completion of the sale, the vice president now directly owns 17,588 shares in the company, valued at approximately $1,442,567.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lance F. Tucker sold 517 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $81.26, for a total value of $42,011.42. Following the completion of the sale, the chief financial officer now owns 19,004 shares of the company’s stock, valued at $1,544,265.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,034 shares of company stock valued at $333,516. Company insiders own 2.30% of the company’s stock.

Several large investors have recently bought and sold shares of JACK. Norges Bank purchased a new stake in shares of Jack in the Box in the 4th quarter worth $23,325,000. Wells Fargo & Company MN increased its stake in shares of Jack in the Box by 43.3% in the 1st quarter. Wells Fargo & Company MN now owns 448,922 shares of the restaurant operator’s stock worth $36,390,000 after purchasing an additional 135,621 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Jack in the Box by 12.0% in the 4th quarter. Macquarie Group Ltd. now owns 709,239 shares of the restaurant operator’s stock worth $55,059,000 after purchasing an additional 76,230 shares in the last quarter. Samlyn Capital LLC increased its stake in shares of Jack in the Box by 17.1% in the 4th quarter. Samlyn Capital LLC now owns 300,790 shares of the restaurant operator’s stock worth $23,351,000 after purchasing an additional 44,031 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of Jack in the Box by 33.4% in the 1st quarter. State of Wisconsin Investment Board now owns 160,050 shares of the restaurant operator’s stock worth $12,974,000 after purchasing an additional 40,050 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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