Piper Sandler Lowers Jack in the Box (NASDAQ:JACK) Price Target to $53.00

Jack in the Box (NASDAQ:JACK) had its price target lowered by analysts at Piper Sandler from $56.00 to $53.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective would indicate a potential upside of 4.60% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wedbush lowered their target price on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Oppenheimer lowered their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial reduced their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price target on Jack in the Box from $75.00 to $70.00 and set an “outperform” 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 issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.06.

Jack in the Box Stock Performance

JACK stock traded up $0.76 during midday trading on Wednesday, reaching $50.67. 90,077 shares of the company traded hands, compared to its average volume of 501,827. The firm has a market capitalization of $969.11 million, a price-to-earnings ratio of -25.46, a P/E/G ratio of 0.65 and a beta of 1.94. The business has a 50 day moving average of $46.25 and a 200-day moving average of $51.38. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. The business had revenue of $369.17 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 earnings per share. Research analysts anticipate that Jack in the Box will post 6.21 earnings per share for the current year.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Jack in the Box by 21.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after purchasing an additional 23,770 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Jack in the Box during the second quarter worth approximately $3,311,000. Seven Eight Capital LP purchased a new position in shares of Jack in the Box in the 1st quarter worth $1,096,000. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $31,937,000 after acquiring an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in 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 acquiring an additional 18,874 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

Jack in the Box Company Profile

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.