Jack in the Box (NASDAQ:JACK) Shares Gap Up After Better-Than-Expected Earnings

Jack in the Box Inc. (NASDAQ:JACK)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $33.95, but opened at $37.89. Jack in the Box shares last traded at $39.35, with a volume of 537,515 shares traded.

The restaurant operator reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The firm had revenue of $469.44 million during the quarter, compared to analysts’ expectations of $470.47 million.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Guggenheim cut 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 report on Wednesday, November 20th. Barclays cut their price objective on Jack in the Box from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. UBS Group dropped their price target on Jack in the Box from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Truist Financial reduced their price objective on Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.50.

Insider Activity

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total value of $68,397.76. Following the sale, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 2,190 shares of company stock worth $92,961. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Several large investors have recently made changes to their positions in JACK. Quadrant Capital Group LLC lifted its holdings in Jack in the Box by 96.7% during the 4th quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 442 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Jack in the Box during the fourth quarter worth approximately $40,000. DekaBank Deutsche Girozentrale bought a new position in shares of Jack in the Box in the third quarter valued at approximately $41,000. GAMMA Investing LLC boosted its holdings in shares of Jack in the Box by 229.7% in the 4th quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 735 shares in the last quarter. Finally, KBC Group NV grew its position in Jack in the Box by 99.5% during the 4th quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 616 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

Jack in the Box Stock Performance

The stock has a 50-day moving average of $39.60 and a 200 day moving average of $44.61. The firm has a market capitalization of $739.87 million, a P/E ratio of -20.42, a price-to-earnings-growth ratio of 1.29 and a beta of 1.94.

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.