Barclays Trims Jack in the Box (NASDAQ:JACK) Target Price to $46.00

Jack in the Box (NASDAQ:JACK) had its price objective reduced by stock analysts at Barclays from $57.00 to $46.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price target would suggest a potential upside of 4.19% from the company’s current price.

Several other research firms have also weighed in on JACK. Bank of America dropped their price objective on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group dropped their price target on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research report on Monday. TD Cowen lowered their target price on Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Oppenheimer cut their price target 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. Finally, Morgan Stanley reduced their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and a consensus price target of $64.19.

Jack in the Box Stock Performance

Shares of Jack in the Box stock traded down $1.31 during trading on Tuesday, hitting $44.15. 114,310 shares of the stock were exchanged, compared to its average volume of 501,893. The stock’s fifty day moving average is $46.98 and its 200 day moving average is $51.94. The stock has a market cap of $856.07 million, a PE ratio of 7.77, a P/E/G ratio of 0.63 and a beta of 1.94. Jack in the Box has a 12 month low of $40.84 and a 12 month high of $86.20.

Jack in the Box (NASDAQ:JACK) last released its 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 firm had revenue of $369.17 million for the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. Jack in the Box’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share. Sell-side analysts anticipate that Jack in the Box will post 6.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at approximately $642,360.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised 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 acquiring an additional 23,770 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Jack in the Box in the second quarter worth approximately $3,311,000. Seven Eight Capital LP bought a new position in Jack in the Box in the first quarter valued at about $1,096,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Jack in the Box by 26.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Jack in the Box by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after buying an additional 18,874 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors.

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.