Loop Capital Lowers Jack in the Box (NASDAQ:JACK) Price Target to $70.00

Jack in the Box (NASDAQ:JACK) had its price target decreased by equities research analysts at Loop Capital from $87.00 to $70.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Loop Capital’s price objective suggests a potential upside of 58.30% from the company’s current price.

A number of other research firms have also commented on JACK. Bank of America lowered their price target on Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, August 19th. TD Cowen reaffirmed a “hold” rating and issued a $57.00 price target on shares of Jack in the Box in a research note on Thursday, September 12th. Truist Financial reduced their price objective on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley decreased their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, Piper Sandler cut their target price on shares of Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Jack in the Box presently has a consensus rating of “Hold” and an average price target of $66.00.

Jack in the Box Stock Performance

Shares of NASDAQ JACK traded down $0.81 during mid-day trading on Monday, hitting $44.22. The stock had a trading volume of 154,930 shares, compared to its average volume of 503,518. The business has a 50 day moving average price of $47.79 and a two-hundred day moving average price of $52.79. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The firm has a market cap of $857.43 million, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.14. The business had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Equities research analysts predict that Jack in the Box will post 6.22 EPS for the current fiscal year.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Jack in the Box by 21.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock valued at $9,387,000 after buying an additional 23,770 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Jack in the Box in the 2nd quarter worth $3,311,000. Seven Eight Capital LP bought a new stake in shares of Jack in the Box in the 1st quarter worth $1,096,000. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 26.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after purchasing an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after purchasing an additional 18,874 shares in the last quarter. 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.