Jack in the Box (NASDAQ:JACK) Price Target Cut to $51.00 by Analysts at Truist Financial

Jack in the Box (NASDAQ:JACK) had its price target cut by research analysts at Truist Financial from $57.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price indicates a potential upside of 32.06% from the company’s previous close.

Several other brokerages have also commented on JACK. Stifel Nicolaus lowered their price objective on shares of Jack in the Box from $52.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 10th. Piper Sandler lowered their price objective on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. TD Securities reiterated a “hold” rating and issued a $42.00 target price on shares of Jack in the Box in a research note on Wednesday. Guggenheim reduced their target price on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Finally, Wedbush downgraded shares of Jack in the Box from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $40.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.56.

Jack in the Box Stock Performance

Shares of JACK stock opened at $38.62 on Wednesday. The firm has a market cap of $728.22 million, a price-to-earnings ratio of -19.81, a P/E/G ratio of 1.29 and a beta of 1.94. Jack in the Box has a 52 week low of $32.69 and a 52 week high of $76.56. The firm’s 50-day simple moving average is $39.55 and its two-hundred day simple moving average is $44.52.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 EPS for the quarter, topping the consensus estimate of $1.71 by $0.21. The business had revenue of $469.44 million for the quarter, compared to analyst estimates of $470.47 million. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. Analysts forecast that Jack in the Box will post 5.33 earnings per share for the current year.

Insider Activity at Jack in the Box

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the transaction, the senior vice president now owns 16,815 shares of the company’s stock, valued at $681,343.80. The trade was a 9.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 2,190 shares of company stock valued at $92,961. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds and other institutional investors have recently bought and sold shares of JACK. DekaBank Deutsche Girozentrale purchased a new position in Jack in the Box in the 3rd quarter worth approximately $41,000. Emerald Advisers LLC grew its stake in Jack in the Box by 2.9% in the 3rd quarter. Emerald Advisers LLC now owns 200,067 shares of the restaurant operator’s stock worth $9,311,000 after buying an additional 5,582 shares in the last quarter. Access Investment Management LLC purchased a new position in Jack in the Box in the 3rd quarter worth approximately $1,475,000. GSA Capital Partners LLP purchased a new position in Jack in the Box in the 3rd quarter worth approximately $229,000. Finally, Aigen Investment Management LP grew its stake in Jack in the Box by 238.5% in the 3rd quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after buying an additional 15,409 shares in the last quarter. Hedge funds and other institutional investors 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.