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

Jack in the Box (NASDAQ:JACK) had its price target dropped by investment analysts at Morgan Stanley from $53.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price target would indicate a potential upside of 15.65% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Jack in the Box in a research report on Thursday, January 16th. Piper Sandler decreased 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 dropped their price target on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Bank of America increased their price objective on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group cut their target price on Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.88.

Jack in the Box Stock Up 0.7 %

Shares of JACK opened at $38.91 on Tuesday. The company has a market capitalization of $732.71 million, a PE ratio of -19.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.94. Jack in the Box has a 52-week low of $36.36 and a 52-week high of $81.01. The stock has a fifty day simple moving average of $43.28 and a two-hundred day simple moving average of $47.10.

Insiders Place Their Bets

In related news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the sale, the senior vice president now directly owns 16,815 shares in the company, valued at $681,343.80. This represents a 9.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,343 shares of company stock worth $100,601 over the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds have recently made changes to their positions in JACK. Invenomic Capital Management LP acquired a new position in shares of Jack in the Box during the 3rd quarter valued at $11,802,000. Clearline Capital LP boosted its holdings in Jack in the Box by 136.7% in the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after acquiring an additional 144,631 shares in the last quarter. Squarepoint Ops LLC grew its stake in Jack in the Box by 296.5% in the second quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock valued at $6,884,000 after acquiring an additional 101,064 shares during the period. Barclays PLC increased its holdings in shares of Jack in the Box by 70.9% during the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock valued at $10,060,000 after acquiring an additional 89,649 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 valued at $33,156,000 after acquiring an additional 85,461 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors.

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.