Jack in the Box (NASDAQ:JACK) Given New $60.00 Price Target at Oppenheimer

Jack in the Box (NASDAQ:JACK) had its target price cut by equities research analysts at Oppenheimer from $70.00 to $60.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s target price would suggest a potential upside of 29.56% from the company’s current price.

A number of other research analysts have also recently issued reports on JACK. Truist Financial reduced their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays reduced their price objective on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. TD Cowen dropped their price target on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Finally, Bank of America raised their price target on shares of Jack in the Box from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Price Performance

Shares of NASDAQ JACK traded down $0.10 during mid-day trading on Friday, reaching $46.31. 122,336 shares of the company’s stock traded hands, compared to its average volume of 503,796. The stock has a market cap of $885.73 million, a P/E ratio of -23.25, a PEG ratio of 0.70 and a beta of 1.93. The business has a 50-day simple moving average of $46.03 and a 200 day simple moving average of $50.61. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Jack in the Box by 261.5% in the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after purchasing an additional 403,423 shares during the last quarter. Clearline Capital LP boosted its holdings in Jack in the Box by 136.7% during the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after acquiring an additional 144,631 shares during the period. Allspring Global Investments Holdings LLC grew its position in Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after acquiring an additional 130,214 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Jack in the Box by 296.5% during the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after purchasing an additional 101,064 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Jack in the Box during the second quarter worth $3,311,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

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.