Wedbush Reaffirms “Outperform” Rating for Jack in the Box (NASDAQ:JACK)

Wedbush reaffirmed their outperform rating on shares of Jack in the Box (NASDAQ:JACK) in a report issued on Tuesday, Benzinga reports. Wedbush currently has a $68.00 price objective on the restaurant operator’s stock.

Other research analysts also recently issued reports about the stock. Piper Sandler lowered their price objective on shares of Jack in the Box from $81.00 to $67.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Loop Capital decreased their target price on shares of Jack in the Box from $118.00 to $112.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. TD Cowen reaffirmed a hold rating and set a $59.00 target price on shares of Jack in the Box in a research note on Thursday, June 13th. Oppenheimer decreased their target price on shares of Jack in the Box from $98.00 to $75.00 and set an outperform rating on the stock in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $75.00 target price on shares of Jack in the Box in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $75.17.

Jack in the Box Stock Down 2.9 %

Shares of JACK stock opened at $57.72 on Tuesday. The firm has a 50 day moving average price of $53.35 and a two-hundred day moving average price of $62.50. The company has a market capitalization of $1.12 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.79 and a beta of 1.91. Jack in the Box has a 12-month low of $46.10 and a 12-month high of $97.68.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The company had revenue of $365.40 million during the quarter, compared to the consensus estimate of $369.53 million. During the same period in the previous year, the business earned $1.47 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts expect that Jack in the Box will post 6.29 EPS for the current year.

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.05%. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Insider Buying and Selling at Jack in the Box

In other news, CEO Darin S. Harris sold 598 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now owns 90,887 shares in the company, valued at $4,693,404.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 800 shares of company stock valued at $41,514. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jack in the Box

Institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC raised its holdings in shares of Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Jack in the Box in the 1st quarter worth about $97,000. Quadrant Capital Group LLC grew its position in Jack in the Box by 21.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 276 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after buying an additional 179 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Jack in the Box during the 1st quarter worth approximately $260,000. 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.