Truist Financial Lowers Jack in the Box (NASDAQ:JACK) Price Target to $51.00

Jack in the Box (NASDAQ:JACK) had its price objective lowered by Truist Financial from $57.00 to $51.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also issued reports on JACK. Piper Sandler reduced their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 target price on shares of Jack in the Box in a research note on Thursday, January 16th. TD Cowen restated a “hold” rating and set a $50.00 price target on shares of Jack in the Box in a research note on Thursday, November 21st. Oppenheimer reduced their price objective on shares of Jack in the Box from $60.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, TD Securities reissued a “hold” rating and set a $42.00 target price on shares of Jack in the Box in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.56.

Jack in the Box Stock Performance

Shares of JACK opened at $38.44 on Wednesday. The company has a market capitalization of $724.82 million, a PE ratio of -19.71, a PEG ratio of 1.29 and a beta of 1.94. The company’s 50 day moving average price is $39.51 and its 200 day moving average price is $44.42. Jack in the Box has a 52 week low of $32.69 and a 52 week high of $76.56.

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

Jack in the Box Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Thursday, March 20th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Thursday, March 20th. Jack in the Box’s dividend payout ratio (DPR) is currently -90.26%.

Insider Buying and Selling at Jack in the Box

In other news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $40.52, for a total transaction 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 approximately $681,343.80. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,190 shares of company stock valued at $92,961 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invenomic Capital Management LP acquired a new stake in shares of Jack in the Box during the 3rd quarter worth approximately $11,802,000. Raymond James Financial Inc. acquired a new stake in Jack in the Box during the fourth quarter worth $7,655,000. IPG Investment Advisors LLC increased its holdings in Jack in the Box by 59.2% in the 4th quarter. IPG Investment Advisors LLC now owns 440,619 shares of the restaurant operator’s stock valued at $18,347,000 after buying an additional 163,834 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Jack in the Box by 178.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 196,740 shares of the restaurant operator’s stock valued at $8,192,000 after buying an additional 126,101 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of Jack in the Box during the 4th quarter worth about $4,249,000. 99.79% of the stock is currently owned by institutional investors.

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.