Jack In The Box (NASDAQ:JACK) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Jack In The Box (NASDAQ:JACK) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on JACK. Morgan Stanley decreased their price target on shares of Jack In The Box from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday. UBS Group increased their price objective on Jack In The Box from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $20.00 price target on Jack In The Box in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jack In The Box in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group dropped their price objective on Jack In The Box from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, November 20th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Jack In The Box currently has an average rating of “Hold” and a consensus price target of $24.67.

Jack In The Box Stock Performance

Shares of JACK opened at $20.67 on Monday. The company has a market cap of $390.66 million, a price-to-earnings ratio of -4.84, a PEG ratio of 1.14 and a beta of 1.13. The stock has a fifty day moving average price of $19.33 and a two-hundred day moving average price of $19.21. Jack In The Box has a 52-week low of $13.99 and a 52-week high of $44.15.

Jack In The Box (NASDAQ:JACK) last announced its earnings results on Wednesday, November 19th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). Jack In The Box had a negative net margin of 5.51% and a negative return on equity of 9.23%. The business had revenue of $326.19 million during the quarter, compared to analyst estimates of $324.23 million. During the same quarter last year, the business posted $1.16 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Jack In The Box will post 5.33 EPS for the current fiscal year.

Insider Activity

In other Jack In The Box news, SVP Richard D. Cook sold 1,787 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $19.08, for a total value of $34,095.96. Following the completion of the sale, the senior vice president owned 27,193 shares of the company’s stock, valued at approximately $518,842.44. This represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah L. Super sold 2,114 shares of Jack In The Box stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $19.08, for a total transaction of $40,335.12. Following the transaction, the executive vice president directly owned 32,640 shares in the company, valued at approximately $622,771.20. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,466 shares of company stock valued at $181,110. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jack In The Box

Several institutional investors have recently modified their holdings of JACK. Marshall Wace LLP increased its holdings in Jack In The Box by 192.9% during the 3rd quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator’s stock worth $14,712,000 after purchasing an additional 490,071 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Jack In The Box by 519.5% during the third quarter. Ameriprise Financial Inc. now owns 241,444 shares of the restaurant operator’s stock worth $4,773,000 after buying an additional 202,469 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Jack In The Box by 186.4% during the third quarter. Two Sigma Investments LP now owns 236,606 shares of the restaurant operator’s stock worth $4,678,000 after buying an additional 154,002 shares in the last quarter. Millennium Management LLC raised its position in Jack In The Box by 535.1% in the 3rd quarter. Millennium Management LLC now owns 152,138 shares of the restaurant operator’s stock valued at $3,008,000 after buying an additional 128,182 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Jack In The Box by 45.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator’s stock valued at $7,697,000 after acquiring an additional 121,752 shares in the last quarter. Institutional investors own 99.79% of the company’s stock.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.