Jack In The Box Inc. (JACK) Upgraded to Buy by Zacks Investment Research
Jack In The Box Inc. (NASDAQ:JACK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $107.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.42% from the company’s previous close.
According to Zacks, “Jack in the Box’s Qdoba brand has been driving growth at the company over the past few quarters. However, of late, the company has been experiencing moderated comps growth at its namesake Jack in the Box restaurants due to increased competitive pressure. Even so, the company’s enhanced focus on franchising and rewarding its shareholders through share repurchases and dividends bode well. Also, various sales initiatives like regular menu innovation, increased marketing efforts, remodeling along with offering catering options should drive top-line growth. Meanwhile, the company has a mixed record of earnings surprises in the recent quarters. However, increased marketing initiatives might keep profits under pressure. The company’s fiscal Q4 comps guidance also raises concerns. Estimates too have been going down ahead of its Q4 earnings release.”
Other equities research analysts have also recently issued research reports about the company. Barclays PLC boosted their target price on Jack In The Box from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Vetr upgraded Jack In The Box from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday, June 8th. Wedbush restated an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Jack In The Box in a research note on Thursday, August 4th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $97.00 price objective on shares of Jack In The Box in a research note on Tuesday, August 2nd. Finally, Jefferies Group upped their price objective on Jack In The Box from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Jack In The Box presently has an average rating of “Buy” and a consensus price target of $101.53.
Shares of Jack In The Box (NASDAQ:JACK) traded down 0.27% during midday trading on Tuesday, hitting $94.92. 205,319 shares of the stock traded hands. Jack In The Box has a 12-month low of $61.78 and a 12-month high of $102.68. The company has a market capitalization of $3.10 billion, a PE ratio of 28.87 and a beta of 0.41. The firm’s 50 day moving average price is $98.69 and its 200 day moving average price is $83.85.
Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, August 3rd. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. The firm had revenue of $368.94 million for the quarter, compared to analysts’ expectations of $367.52 million. Jack In The Box had a negative return on equity of 120.29% and a net margin of 7.41%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Analysts expect that Jack In The Box will post $3.73 EPS for the current year.
In other news, CEO Leonard A. Comma sold 67,572 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $96.68, for a total transaction of $6,532,860.96. Following the sale, the chief executive officer now directly owns 164,710 shares of the company’s stock, valued at approximately $15,924,162.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Goebel sold 1,480 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $101.46, for a total value of $150,160.80. Following the sale, the director now directly owns 23,377 shares in the company, valued at $2,371,830.42. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC bought a new stake in Jack In The Box during the first quarter valued at about $30,683,000. Advisory Research Inc. bought a new stake in Jack In The Box during the second quarter valued at about $34,541,000. Tiger Legatus Capital Management LLC bought a new stake in Jack In The Box during the second quarter valued at about $18,902,000. Marshall Wace LLP raised its stake in Jack In The Box by 1,094.3% in the second quarter. Marshall Wace LLP now owns 153,647 shares of the company’s stock valued at $13,202,000 after buying an additional 140,782 shares during the period. Finally, Thrax Management LLC bought a new stake in Jack In The Box during the first quarter valued at about $8,485,000. 98.56% of the stock is currently owned by institutional investors.
Jack In The Box Company Profile
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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