Jack In The Box (NASDAQ:JACK) Price Target Cut to $16.00 by Analysts at Royal Bank Of Canada

Jack In The Box (NASDAQ:JACK) had its price objective dropped by analysts at Royal Bank Of Canada from $22.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 2.04% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley set a $20.00 target price on shares of Jack In The Box in a research report on Tuesday, October 21st. UBS Group cut their target price on shares of Jack In The Box from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on Jack In The Box from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday. Truist Financial lowered their price objective on shares of Jack In The Box from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Barclays reduced their target price on shares of Jack In The Box from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jack In The Box has an average rating of “Hold” and a consensus price target of $26.37.

Jack In The Box Stock Up 13.6%

Shares of JACK stock traded up $1.95 during mid-day trading on Thursday, hitting $16.33. 729,788 shares of the company’s stock were exchanged, compared to its average volume of 1,034,188. The stock has a market cap of $308.43 million, a price-to-earnings ratio of -4.74 and a beta of 1.20. Jack In The Box has a fifty-two week low of $13.99 and a fifty-two week high of $50.45. The stock has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $19.48.

Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, November 19th. The restaurant operator reported $0.30 EPS 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 business had revenue of $326.19 million during the quarter, compared to analyst estimates of $324.23 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts anticipate that Jack In The Box will post 5.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jack In The Box

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Jack In The Box by 44.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 163,193 shares of the restaurant operator’s stock valued at $4,437,000 after buying an additional 50,366 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 25,791 shares during the period. Invesco Ltd. grew its holdings in shares of Jack In The Box by 16.0% during the first 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 during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Jack In The Box during the 1st quarter worth approximately $222,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Jack In The Box in the 1st quarter worth approximately $618,000. 99.79% of the stock is currently owned by institutional investors.

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.