Jack In The Box (NASDAQ:JACK – Get Free Report) had its target price boosted by investment analysts at Mizuho from $11.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Mizuho’s price objective would suggest a potential upside of 1.64% from the company’s current price.
Several other brokerages have also weighed in on JACK. The Goldman Sachs Group increased their price objective on Jack In The Box from $15.00 to $17.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada decreased their price target on Jack In The Box from $25.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Zacks Research upgraded Jack In The Box from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Sanford C. Bernstein set a $15.00 price objective on Jack In The Box in a research report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Jack In The Box from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Jack In The Box currently has a consensus rating of “Hold” and an average price target of $21.12.
Read Our Latest Report on Jack In The Box
Jack In The Box Price Performance
Jack In The Box (NASDAQ:JACK – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $254.26 million during the quarter, compared to analysts’ expectations of $256.55 million. Jack In The Box had a negative net margin of 8.69% and a negative return on equity of 7.12%. The business’s revenue for the quarter was down 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. Sell-side analysts forecast that Jack In The Box will post 3.36 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Jack In The Box by 5.9% in the 1st quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock valued at $327,000 after buying an additional 671 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Jack In The Box by 206.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 11,567 shares during the period. Woodline Partners LP boosted its holdings in Jack In The Box by 63.8% during the 1st quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock valued at $4,546,000 after acquiring an additional 65,142 shares during the period. SG Americas Securities LLC acquired a new position in Jack In The Box in the 3rd quarter valued at about $111,000. Finally, Quent Capital LLC purchased a new stake in Jack In The Box during the third quarter worth about $42,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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