Jack In The Box (NASDAQ:JACK) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Jack In The Box Inc. (NASDAQ:JACKGet Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.37 and traded as high as $15.61. Jack In The Box shares last traded at $15.17, with a volume of 892,381 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JACK. Citigroup reduced their price objective on Jack In The Box from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Stifel Nicolaus increased their target price on Jack In The Box from $10.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Oppenheimer dropped their target price on Jack In The Box from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Royal Bank Of Canada cut their price target on Jack In The Box from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group reduced their price target on Jack In The Box from $17.00 to $12.00 and set a “sell” rating on the stock in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Jack In The Box currently has a consensus rating of “Hold” and an average price target of $15.84.

Check Out Our Latest Stock Analysis on JACK

Jack In The Box Price Performance

The company has a market cap of $283.95 million, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. The business’s fifty day moving average price is $13.05 and its 200 day moving average price is $15.37.

Jack In The Box (NASDAQ:JACKGet Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The restaurant operator reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $254.26 million during the quarter, compared to the consensus estimate of $256.55 million. Jack In The Box had a negative return on equity of 6.34% and a net margin of 2.82%.Jack In The Box’s quarterly revenue was down 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, equities research analysts anticipate that Jack In The Box Inc. will post 3.41 EPS for the current year.

Insider Activity at Jack In The Box

In related news, Director Guillermo Diaz, Jr. purchased 5,962 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $11.51 per share, with a total value of $68,622.62. Following the completion of the purchase, the director owned 20,692 shares in the company, valued at approximately $238,164.92. This represents a 40.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jack In The Box

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Jack In The Box by 45.5% in the third quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator’s stock valued at $7,697,000 after acquiring an additional 121,752 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Jack In The Box during the 4th quarter worth approximately $2,043,000. SG Americas Securities LLC raised its holdings in Jack In The Box by 1,990.4% during the 4th quarter. SG Americas Securities LLC now owns 117,457 shares of the restaurant operator’s stock worth $2,226,000 after purchasing an additional 111,838 shares during the last quarter. Maxi Investments CY Ltd acquired a new position in shares of Jack In The Box in the 4th quarter worth approximately $2,263,000. Finally, Ruffer LLP acquired a new position in shares of Jack In The Box in the 4th quarter worth approximately $3,223,000. 99.79% of the stock is currently owned by institutional investors.

About Jack In The Box

(Get Free Report)

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.

Further Reading

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