Bank of America Lowers Jack in the Box (NASDAQ:JACK) Price Target to $79.00

Jack in the Box (NASDAQ:JACK) had its target price decreased by research analysts at Bank of America from $83.00 to $79.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s price objective points to a potential upside of 42.19% from the company’s current price.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of Jack in the Box in a report on Thursday, June 13th. They set a “sell” rating and a $55.00 price objective on the stock. Piper Sandler cut their price objective on shares of Jack in the Box from $81.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Morgan Stanley cut their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group cut their price target on shares of Jack in the Box from $87.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $59.00 price target on shares of Jack in the Box in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.17.

Jack in the Box Stock Performance

NASDAQ JACK traded up $0.75 during trading on Wednesday, hitting $55.56. The stock had a trading volume of 215,156 shares, compared to its average volume of 487,830. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.72 and a beta of 1.91. Jack in the Box has a one year low of $46.10 and a one year high of $99.56. The stock has a 50 day simple moving average of $52.60 and a 200 day simple moving average of $64.28.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The firm had revenue of $365.40 million during the quarter, compared to the consensus estimate of $369.53 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that Jack in the Box will post 6.31 EPS for the current year.

Insider Activity at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the completion of the transaction, the chief executive officer now directly owns 90,887 shares in the company, valued at $4,693,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 800 shares of company stock worth $41,514 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Jack in the Box in the second quarter worth about $3,311,000. Price T Rowe Associates Inc. MD raised its position in shares of Jack in the Box by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock worth $1,090,000 after acquiring an additional 644 shares during the period. EntryPoint Capital LLC raised its position in shares of Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares during the period. MQS Management LLC acquired a new position in shares of Jack in the Box in the first quarter worth about $260,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Jack in the Box by 4.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after acquiring an additional 790 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.