Jack in the Box (NASDAQ:JACK) Stock Rating Lowered by StockNews.com

Jack in the Box (NASDAQ:JACK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

JACK has been the topic of several other reports. Piper Sandler lowered their price target on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush lowered their price target on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a report on Wednesday. Morgan Stanley lowered their price target 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, July 16th. Finally, TD Cowen lowered their price target on shares of Jack in the Box from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.61.

Jack in the Box Price Performance

NASDAQ JACK traded down $1.65 on Wednesday, hitting $51.38. 1,397,573 shares of the stock were exchanged, compared to its average volume of 490,333. Jack in the Box has a 52-week low of $46.10 and a 52-week high of $96.82. The company has a market capitalization of $996.26 million, a price-to-earnings ratio of 9.05, a P/E/G ratio of 0.76 and a beta of 1.91. The company’s 50-day moving average price is $53.31 and its two-hundred day moving average price is $61.76.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.14. 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 $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. During the same period in the previous year, the company posted $1.45 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Equities analysts predict that Jack in the Box will post 6.29 EPS for the current fiscal year.

Insider Activity at Jack in the Box

In other Jack in the Box news, CEO Darin S. Harris sold 598 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the sale, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 800 shares of company stock valued at $41,514 over the last quarter. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jack in the Box

A number of large investors have recently modified their holdings of JACK. LSV Asset Management lifted its holdings in Jack in the Box by 74.4% in the fourth quarter. LSV Asset Management now owns 996,472 shares of the restaurant operator’s stock valued at $81,342,000 after buying an additional 425,079 shares during the period. Victory Capital Management Inc. raised its holdings 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 period. Lighthouse Investment Partners LLC acquired a new stake in Jack in the Box in the fourth quarter worth $11,424,000. Allspring Global Investments Holdings LLC raised its holdings in Jack in the Box by 26.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after purchasing an additional 130,214 shares during the period. Finally, Trexquant Investment LP raised its holdings in Jack in the Box by 840.9% in the fourth quarter. Trexquant Investment LP now owns 129,763 shares of the restaurant operator’s stock worth $10,593,000 after purchasing an additional 115,972 shares during the period. 99.79% of the stock is currently 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.