Jack in the Box (NASDAQ:JACK) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a sell rating in a research report released on Friday, BidAskClub reports.

A number of other research firms have also issued reports on JACK. Wells Fargo & Co boosted their target price on Jack in the Box from $95.00 to $102.00 and gave the company an outperform rating in a report on Monday, September 30th. Telsey Advisory Group boosted their target price on Jack in the Box from $95.00 to $105.00 and gave the company an outperform rating in a report on Thursday, August 22nd. SunTrust Banks dropped their target price on Jack in the Box to $98.00 and set a buy rating on the stock in a report on Friday, November 22nd. Wedbush reissued a buy rating and issued a $105.00 target price on shares of Jack in the Box in a report on Thursday, November 14th. Finally, Credit Suisse Group reissued a sell rating and issued a $78.00 target price on shares of Jack in the Box in a report on Sunday, November 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Jack in the Box has an average rating of Hold and a consensus target price of $92.60.

NASDAQ JACK traded down $0.68 on Friday, reaching $77.04. The stock had a trading volume of 480,509 shares, compared to its average volume of 687,296. Jack in the Box has a 12-month low of $70.77 and a 12-month high of $93.12. The business’s 50-day moving average price is $81.74 and its 200 day moving average price is $83.65. The stock has a market cap of $1.84 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.22.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, November 20th. The restaurant operator reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.01). Jack in the Box had a net margin of 9.94% and a negative return on equity of 18.08%. The firm had revenue of $221.24 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter in the prior year, the firm posted $0.77 EPS. Jack in the Box’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts anticipate that Jack in the Box will post 4.5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, December 4th. Jack in the Box’s payout ratio is currently 36.78%.

In related news, CEO Leonard A. Comma sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $92.00, for a total transaction of $276,000.00. Following the transaction, the chief executive officer now owns 180,552 shares of the company’s stock, valued at $16,610,784. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul D. Melancon sold 397 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.26, for a total value of $30,672.22. Following the transaction, the senior vice president now directly owns 7,131 shares in the company, valued at approximately $550,941.06. The disclosure for this sale can be found here. In the last three months, insiders sold 36,886 shares of company stock worth $2,977,322. Corporate insiders own 2.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Chicago Equity Partners LLC grew its holdings in Jack in the Box by 90.4% during the second quarter. Chicago Equity Partners LLC now owns 64,735 shares of the restaurant operator’s stock worth $5,269,000 after acquiring an additional 30,735 shares during the period. Natixis acquired a new position in Jack in the Box during the second quarter worth $378,000. Emerald Mutual Fund Advisers Trust grew its holdings in Jack in the Box by 34.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 313,993 shares of the restaurant operator’s stock worth $28,611,000 after acquiring an additional 80,196 shares during the period. Pacer Advisors Inc. acquired a new position in Jack in the Box during the second quarter worth $836,000. Finally, Waratah Capital Advisors Ltd. grew its holdings in Jack in the Box by 47.9% during the third quarter. Waratah Capital Advisors Ltd. now owns 13,349 shares of the restaurant operator’s stock worth $1,216,000 after acquiring an additional 4,324 shares during the period.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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