StockNews.com Downgrades Jack in the Box (NASDAQ:JACK) to Sell

Jack in the Box (NASDAQ:JACK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $60.00 price objective on shares of Jack in the Box in a research note on Thursday, November 21st. The Goldman Sachs Group dropped their target price on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Guggenheim dropped their target price on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.38.

Jack in the Box Stock Performance

JACK stock opened at $47.97 on Friday. The company’s 50-day simple moving average is $47.05 and its 200 day simple moving average is $49.86. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The company has a market capitalization of $903.32 million, a PE ratio of -24.60, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92.

Institutional Trading of Jack in the Box

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Jack in the Box by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after purchasing an additional 644 shares during the period. Nisa Investment Advisors LLC grew its position in Jack in the Box by 15,439.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,128 shares of the restaurant operator’s stock valued at $261,000 after purchasing an additional 5,095 shares during the period. Bank of New York Mellon Corp grew its position 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 valued at $12,505,000 after purchasing an additional 18,874 shares during the period. Allspring Global Investments Holdings LLC grew its position in Jack in the Box by 26.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after purchasing an additional 130,214 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after purchasing an additional 503 shares during the period. 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.