Jack in the Box (NASDAQ:JACK) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Jack in the Box (NASDAQ:JACK) in a research note issued to investors on Monday,Benzinga reports. They currently have a $70.00 price objective on the restaurant operator’s stock.

Several other brokerages have also weighed in on JACK. UBS Group dropped their price objective on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Truist Financial decreased their target price on 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. StockNews.com cut Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Wedbush decreased their price objective on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Barclays dropped their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.06.

Jack in the Box Stock Performance

Shares of JACK stock opened at $48.82 on Monday. The firm’s 50-day moving average is $46.14 and its 200-day moving average is $51.04. The stock has a market cap of $933.73 million, a price-to-earnings ratio of -24.53, a PEG ratio of 0.78 and a beta of 1.93. 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 issued its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The company had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. During the same period in the previous year, the company posted $1.45 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Jack in the Box will post 6.19 EPS for the current fiscal year.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, August 30th. Jack in the Box’s dividend payout ratio is presently -88.44%.

Insider Activity 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 transaction of $33,867.36. Following the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Jack in the Box

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Jack in the Box during the third quarter worth $41,000. EntryPoint Capital LLC grew its holdings in Jack in the Box by 73.2% during 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 period. Headlands Technologies LLC bought a new position in shares of Jack in the Box in the 1st quarter worth about $97,000. SG Americas Securities LLC acquired a new position in shares of Jack in the Box in the 3rd quarter valued at about $185,000. Finally, Selway Asset Management bought a new stake in shares of Jack in the Box during the 3rd quarter valued at about $228,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.