Citigroup Has Lowered Expectations for Jack In The Box (NASDAQ:JACK) Stock Price

Jack In The Box (NASDAQ:JACK) had its price target reduced by equities research analysts at Citigroup from $19.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 0.73% from the stock’s previous close.

A number of other brokerages have also issued reports on JACK. Bank of America assumed coverage on shares of Jack In The Box in a research note on Monday, October 13th. They set a “buy” rating and a $22.00 price target on the stock. Zacks Research raised shares of Jack In The Box from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Barclays cut their target price on Jack In The Box from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday. Stifel Nicolaus lowered their price target on Jack In The Box from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Oppenheimer dropped their price target on Jack In The Box from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.29.

Jack In The Box Price Performance

Jack In The Box stock traded up $1.50 during trading hours on Thursday, reaching $15.88. The stock had a trading volume of 2,124,803 shares, compared to its average volume of 1,041,436. The company has a market cap of $299.94 million, a price-to-earnings ratio of -4.60 and a beta of 1.20. The business’s 50 day moving average price is $17.71 and its 200-day moving average price is $19.48. Jack In The Box has a 52 week low of $13.99 and a 52 week high of $50.45.

Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, November 19th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). Jack In The Box had a negative return on equity of 11.31% and a negative net margin of 4.34%.The firm had revenue of $326.19 million during the quarter, compared to analysts’ expectations of $324.23 million. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Jack In The Box will post 5.33 EPS for the current fiscal year.

Institutional Trading of Jack In The Box

Several large investors have recently bought and sold shares of JACK. Envestnet Asset Management Inc. raised its holdings in Jack In The Box by 44.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 163,193 shares of the restaurant operator’s stock valued at $4,437,000 after acquiring an additional 50,366 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Jack In The Box in the first quarter valued at approximately $353,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Jack In The Box by 35.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 63,400 shares of the restaurant operator’s stock valued at $1,724,000 after purchasing an additional 16,685 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Jack In The Box by 148.1% in the first quarter. Avantax Advisory Services Inc. now owns 29,872 shares of the restaurant operator’s stock valued at $812,000 after purchasing an additional 17,831 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Jack In The Box by 21.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,122 shares of the restaurant operator’s stock worth $221,000 after buying an additional 1,449 shares in the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.