Jack In The Box (NASDAQ:JACK – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.
A number of other analysts have also recently commented on JACK. Royal Bank Of Canada upped their price objective on shares of Jack In The Box from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Jack In The Box from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group upped their target price on Jack In The Box from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Finally, Mizuho raised their price objective on Jack In The Box from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Three 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. According to data from MarketBeat.com, Jack In The Box currently has an average rating of “Hold” and an average price target of $17.22.
Jack In The Box Stock Down 1.8%
Jack In The Box (NASDAQ:JACK – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 EPS for the quarter, topping the consensus estimate of $0.88 by $0.08. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The company had revenue of $257.66 million during the quarter, compared to analysts’ expectations of $264.60 million. During the same quarter in the previous year, the company earned $1.02 EPS. Jack In The Box’s revenue was down 22.6% on a year-over-year basis. As a group, sell-side analysts expect that Jack In The Box will post 3.15 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of JACK. Legal & General Group Plc bought a new position in Jack In The Box in the 2nd quarter valued at about $30,000. Public Employees Retirement System of Ohio acquired a new position in shares of Jack In The Box during the second quarter worth $48,000. Versant Capital Management Inc raised its holdings in Jack In The Box by 106.7% in the 2nd quarter. Versant Capital Management Inc now owns 6,107 shares of the restaurant operator’s stock valued at $97,000 after buying an additional 3,152 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Jack In The Box during the first quarter valued at $102,000. Finally, Cetera Investment Advisers lifted its holdings in Jack In The Box by 8.6% during the 1st quarter. Cetera Investment Advisers now owns 25,027 shares of the restaurant operator’s stock worth $242,000 after buying an additional 1,987 shares during the period. Institutional investors own 99.79% of the company’s stock.
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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