Jack In The Box (NASDAQ:JACK) Given New $16.00 Price Target at Truist Financial

Jack In The Box (NASDAQ:JACK) had its price objective dropped by equities researchers at Truist Financial from $19.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price objective suggests a potential upside of 11.27% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Jack In The Box from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. TD Cowen dropped their price target on shares of Jack In The Box from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday. Stifel Nicolaus cut their price target on shares of Jack In The Box from $20.00 to $18.00 and set a “hold” rating for the company in a report on Thursday. Morgan Stanley set a $20.00 price objective on Jack In The Box in a report on Tuesday, October 21st. Finally, Mizuho upgraded Jack In The Box to a “hold” rating in a research report on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.68.

Jack In The Box Price Performance

Shares of JACK opened at $14.38 on Thursday. Jack In The Box has a 1-year low of $13.99 and a 1-year high of $50.45. The stock has a market cap of $271.54 million, a PE ratio of -4.17 and a beta of 1.20. The firm has a fifty day moving average price of $17.71 and a 200 day moving average price of $19.48.

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

Hedge Funds Weigh In On Jack In The Box

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of Jack In The Box by 44.6% during the first 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Jack In The Box by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 462,152 shares of the restaurant operator’s stock valued at $12,566,000 after purchasing an additional 25,791 shares during the last quarter. Invesco Ltd. grew its stake in Jack In The Box by 16.0% during the 1st quarter. Invesco Ltd. now owns 120,971 shares of the restaurant operator’s stock valued at $3,289,000 after purchasing an additional 16,667 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Jack In The Box during the 1st quarter valued at approximately $222,000. Finally, Bayforest Capital Ltd purchased a new stake in Jack In The Box during the 1st quarter worth approximately $618,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

About Jack In The Box

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.