Piper Sandler Trims Jack in the Box (NASDAQ:JACK) Target Price to $67.00

Jack in the Box (NASDAQ:JACK) had its target price dropped by analysts at Piper Sandler from $81.00 to $67.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price target would suggest a potential upside of 22.00% from the stock’s previous close.

Several other research firms also recently weighed in on JACK. Northcoast Research upgraded shares of Jack in the Box from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a report on Monday, January 29th. StockNews.com upgraded Jack in the Box from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Morgan Stanley lowered their target price on Jack in the Box from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. Wedbush upgraded shares of Jack in the Box from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $79.00 to $88.00 in a research note on Thursday, March 14th. Finally, Barclays lowered their price objective on shares of 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. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.22.

Jack in the Box Stock Performance

Shares of Jack in the Box stock opened at $54.92 on Wednesday. Jack in the Box has a fifty-two week low of $53.71 and a fifty-two week high of $99.56. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.67 and a beta of 1.81. The stock has a 50 day moving average of $65.08 and a 200 day moving average of $71.34.

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

Insider Buying and Selling

In other Jack in the Box news, Director Michael W. Murphy sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.58, for a total transaction of $96,676.56. Following the transaction, the director now owns 71,035 shares of the company’s stock, valued at $5,155,720.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Jack in the Box by 11.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 499,987 shares of the restaurant operator’s stock worth $40,814,000 after purchasing an additional 53,294 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Jack in the Box by 54.1% during the third quarter. Envestnet Asset Management Inc. now owns 71,105 shares of the restaurant operator’s stock worth $4,911,000 after buying an additional 24,955 shares during the period. IPG Investment Advisors LLC purchased a new position in shares of Jack in the Box during the third quarter worth about $2,222,000. LSV Asset Management raised its stake in Jack in the Box by 143.7% during the 3rd quarter. LSV Asset Management now owns 571,393 shares of the restaurant operator’s stock valued at $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% during the 3rd quarter. Victory Capital Management Inc. now owns 132,402 shares of the restaurant operator’s stock worth $9,144,000 after acquiring an additional 14,701 shares during the period. 99.79% of the stock is owned by institutional investors and hedge funds.

About Jack in the Box

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.