Guggenheim Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its target price decreased by investment analysts at Guggenheim from $95.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Guggenheim’s target price suggests a potential upside of 25.64% from the company’s previous close.

Several other analysts have also recently weighed in on the company. StockNews.com cut Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wedbush reduced their price target on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays cut their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Loop Capital dropped their price target on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.00.

Jack in the Box Stock Up 4.7 %

Shares of NASDAQ JACK opened at $47.76 on Wednesday. The company has a market cap of $913.55 million, a price-to-earnings ratio of -24.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. The firm’s 50-day simple moving average is $46.28 and its 200 day simple moving average is $50.27.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jack in the Box

A number of institutional investors have recently bought and sold shares of JACK. The Manufacturers Life Insurance Company raised its holdings in Jack in the Box by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after purchasing an additional 358 shares during the last quarter. EntryPoint Capital LLC increased its position in Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Jack in the Box by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after purchasing an additional 503 shares during the period. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 644 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in 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 valued at $1,265,000 after buying an additional 790 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.