Jack In The Box Inc. (JACK) Given “Buy” Rating at Bank of America Corp.
Other equities research analysts have also recently issued reports about the stock. Barclays PLC upped their price objective on shares of Jack In The Box from $86.00 to $96.00 and gave the stock an equal weight rating in a report on Friday, August 5th. Wedbush reiterated an outperform rating and issued a $115.00 price objective (up from $110.00) on shares of Jack In The Box in a report on Thursday, August 4th. Vetr upgraded shares of Jack In The Box from a hold rating to a buy rating and set a $89.00 price objective for the company in a report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Jack In The Box from a hold rating to a buy rating and set a $109.00 price target for the company in a report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. restated an outperform rating and set a $97.00 price target on shares of Jack In The Box in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $101.68.
Shares of Jack In The Box (NASDAQ:JACK) traded down 2.97% during mid-day trading on Tuesday, reaching $95.32. The company had a trading volume of 481,986 shares. The company’s 50-day moving average price is $99.06 and its 200-day moving average price is $82.99. The company has a market capitalization of $3.11 billion, a PE ratio of 28.99 and a beta of 0.45. Jack In The Box has a 52-week low of $61.78 and a 52-week high of $102.68.
Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.20. The firm earned $368.94 million during the quarter, compared to analysts’ expectations of $367.52 million. Jack In The Box had a net margin of 7.41% and a negative return on equity of 120.29%. Jack In The Box’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, analysts forecast that Jack In The Box will post $3.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Tuesday, August 16th were paid a $0.30 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. Jack In The Box’s payout ratio is presently 36.36%.
In other Jack In The Box news, CEO Leonard A. Comma sold 67,572 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $96.68, for a total value of $6,532,860.96. Following the transaction, the chief executive officer now directly owns 164,710 shares of the company’s stock, valued at $15,924,162.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Carol A. Diraimo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the transaction, the vice president now directly owns 16,059 shares in the company, valued at $1,605,900. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Cortina Asset Management LLC boosted its position in shares of Jack In The Box by 29.8% in the second quarter. Cortina Asset Management LLC now owns 385,056 shares of the company’s stock worth $33,084,000 after buying an additional 88,383 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Jack In The Box during the second quarter worth about $473,000. Suvretta Capital Management LLC acquired a new position in shares of Jack In The Box during the first quarter worth about $30,683,000. Mount Lucas Management LP boosted its position in shares of Jack In The Box by 10.8% in the first quarter. Mount Lucas Management LP now owns 3,208 shares of the company’s stock worth $205,000 after buying an additional 312 shares during the last quarter. Finally, Falcon Point Capital LLC boosted its position in shares of Jack In The Box by 1.6% in the second quarter. Falcon Point Capital LLC now owns 147,332 shares of the company’s stock worth $12,659,000 after buying an additional 2,315 shares during the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.
About Jack In The Box
Jack in the Box Inc is a restaurant company. The Company operates and franchises approximately 2,910 Jack in the Box quick-service restaurants (QSR) and Qdoba Mexican Eats fast-casual restaurants (Qdoba). Its segments are Jack in the Box and Qdoba Restaurant operations. It operates and franchises approximately 2,250 Jack in the Box restaurants, primarily in the western and southern United States, including one in Guam, over 660 Qdoba restaurants across the United States, and approximately four in Canada.
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