Goldman Sachs Group Inc. Reiterates “Sell” Rating for Jack In The Box Inc. (JACK)
Jack In The Box Inc. (NASDAQ:JACK)‘s stock had its “sell” rating restated by analysts at Goldman Sachs Group Inc. in a research note issued on Friday. They currently have a $88.00 price objective on the stock. Goldman Sachs Group Inc.’s target price suggests a potential downside of 16.55% from the stock’s previous close.
Several other analysts have also recently issued reports on JACK. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $97.00 price target on shares of Jack In The Box in a research report on Tuesday, August 2nd. Wells Fargo & Co. reissued an “outperform” rating and set a $90.50 price target (up previously from $82.50) on shares of Jack In The Box in a research report on Thursday, August 4th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Jack In The Box in a report on Thursday, August 4th. Barclays PLC raised their target price on shares of Jack In The Box from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Friday, August 5th. Finally, Zacks Investment Research raised shares of Jack In The Box from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $102.23.
Shares of Jack In The Box (NASDAQ:JACK) opened at 104.95 on Friday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 28.86 and a beta of 0.50. Jack In The Box has a 12-month low of $61.78 and a 12-month high of $109.40. The stock has a 50 day moving average of $97.88 and a 200 day moving average of $92.52.
Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings results on Monday, November 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The business had revenue of $398.42 million for the quarter, compared to analysts’ expectations of $398.67 million. Jack In The Box had a net margin of 7.76% and a negative return on equity of 83.17%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities research analysts anticipate that Jack In The Box will post $3.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Monday, December 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Jack In The Box’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, December 1st. Jack In The Box’s dividend payout ratio (DPR) is 32.97%.
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In related news, VP Carol A. Diraimo sold 2,000 shares of Jack In The Box stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the vice president now directly owns 16,059 shares in the company, valued at approximately $1,605,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frances L. Allen sold 530 shares of Jack In The Box stock in a transaction on Friday, November 4th. The shares were sold at an average price of $94.03, for a total transaction of $49,835.90. Following the completion of the transaction, the insider now owns 9,196 shares in the company, valued at $864,699.88. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of JACK. Renaissance Technologies LLC raised its position in Jack In The Box by 51.6% in the first quarter. Renaissance Technologies LLC now owns 199,300 shares of the company’s stock worth $12,729,000 after buying an additional 67,800 shares during the period. Panagora Asset Management Inc. raised its position in Jack In The Box by 13.8% in the first quarter. Panagora Asset Management Inc. now owns 247,766 shares of the company’s stock worth $15,825,000 after buying an additional 29,972 shares during the period. Squarepoint Ops LLC purchased a new position in Jack In The Box during the first quarter worth $1,007,000. Boothbay Fund Management LLC raised its position in Jack In The Box by 25.9% in the first quarter. Boothbay Fund Management LLC now owns 7,800 shares of the company’s stock worth $498,000 after buying an additional 1,604 shares during the period. Finally, Capstone Asset Management Co. purchased a new position in Jack In The Box during the second quarter worth $224,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.
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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