Truist Financial Lowers Jack in the Box (NASDAQ:JACK) Price Target to $57.00

Jack in the Box (NASDAQ:JACK) had its price target cut by investment analysts at Truist Financial from $70.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective points to a potential upside of 21.33% from the company’s current price.

A number of other equities research analysts also recently weighed in on JACK. The Goldman Sachs Group reduced their target price on Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on Jack in the Box from $51.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday. TD Cowen reissued a “hold” rating and set a $50.00 target price on shares of Jack in the Box in a research note on Thursday. Piper Sandler reduced their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $60.00 price target on shares of Jack in the Box in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.24.

Jack in the Box Price Performance

Jack in the Box stock traded down $0.82 during mid-day trading on Friday, reaching $46.98. 262,997 shares of the company were exchanged, compared to its average volume of 514,409. The company has a fifty day simple moving average of $46.28 and a 200-day simple moving average of $50.27. The firm has a market cap of $898.73 million, a PE ratio of -23.62, a PEG 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.

Insider Buying and Selling

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

Hedge Funds Weigh In On Jack in the Box

Several hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Jack in the Box by 70.9% in the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after buying an additional 89,649 shares during the last quarter. MML Investors Services LLC boosted its stake in Jack in the Box by 20.3% in the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after acquiring an additional 819 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Jack in the Box during the 3rd quarter valued at approximately $429,000. EP Wealth Advisors LLC purchased a new stake in shares of Jack in the Box during the 3rd quarter worth approximately $372,000. Finally, Stifel Financial Corp raised its holdings in shares of Jack in the Box by 111.6% in the 3rd quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock worth $3,802,000 after purchasing an additional 43,086 shares during the period. 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.