Oppenheimer Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its price target decreased by investment analysts at Oppenheimer from $70.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s target price points to a potential upside of 34.05% from the stock’s current price.

JACK has been the topic of a number of other research reports. UBS Group cut their price target 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. TD Cowen decreased their price objective on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Piper Sandler reduced their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Wedbush cut their price target on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Trading Down 3.6 %

NASDAQ JACK opened at $44.76 on Friday. The firm’s 50 day simple moving average is $46.00 and its 200 day simple moving average is $50.47. The firm has a market capitalization of $856.08 million, a price-to-earnings ratio of -22.49, a P/E/G ratio of 0.70 and a beta of 1.93. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the stock in a transaction that occurred 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 owns 13,201 shares in the company, valued at $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JACK. Barclays PLC increased its stake in shares of Jack in the Box by 70.9% in the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after purchasing an additional 89,649 shares in the last quarter. MML Investors Services LLC boosted its holdings in Jack in the Box by 20.3% in the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after buying an additional 819 shares during the period. XTX Topco Ltd purchased a new stake in Jack in the Box in the 3rd quarter worth $429,000. EP Wealth Advisors LLC purchased a new stake in Jack in the Box in the 3rd quarter worth $372,000. Finally, Stifel Financial Corp raised its holdings in Jack in the Box by 111.6% during the third quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock valued at $3,802,000 after acquiring an additional 43,086 shares during the period. 99.79% of the stock is owned by hedge funds and other 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.