The Goldman Sachs Group Lowers Jack in the Box (NASDAQ:JACK) Price Target to $47.00

Jack in the Box (NASDAQ:JACK) had its price objective cut by investment analysts at The Goldman Sachs Group from $55.00 to $47.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “sell” rating on the restaurant operator’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 5.59% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Loop Capital lowered their price target on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Bank of America lowered their price target on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. UBS Group reduced 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 report on Friday, October 4th. TD Cowen reduced their price objective on shares of 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. Finally, Royal Bank of Canada reduced their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Jack in the Box currently has a consensus rating of “Hold” and a consensus price target of $64.25.

Jack in the Box Stock Down 2.1 %

Shares of JACK opened at $44.51 on Monday. The firm’s fifty day moving average is $46.98 and its two-hundred day moving average is $51.94. The stock has a market cap of $863.05 million, a PE ratio of 7.84, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. 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 results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. The firm had revenue of $369.17 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. As a group, research analysts anticipate that Jack in the Box will post 6.22 earnings per share for the current year.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Jack in the Box by 13.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after buying an additional 85,461 shares in the last quarter. Selway Asset Management acquired a new position in Jack in the Box in the third quarter valued at approximately $228,000. Inspire Investing LLC boosted its holdings in Jack in the Box by 26.8% in the third quarter. Inspire Investing LLC now owns 9,695 shares of the restaurant operator’s stock valued at $451,000 after purchasing an additional 2,048 shares in the last quarter. SG Americas Securities LLC acquired a new position in Jack in the Box in the third quarter valued at approximately $185,000. Finally, Point72 Asset Management L.P. boosted its holdings in Jack in the Box by 386.9% in the second quarter. Point72 Asset Management L.P. now owns 30,190 shares of the restaurant operator’s stock valued at $1,538,000 after purchasing an additional 23,990 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

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.