TD Cowen Lowers Jack in the Box (NASDAQ:JACK) Price Target to $50.00

Jack in the Box (NASDAQ:JACK) had its price target cut by stock analysts at TD Cowen from $57.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. TD Cowen’s price target suggests a potential upside of 7.97% from the company’s current price.

JACK has been the topic of a number of other research reports. StockNews.com downgraded shares of Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Truist Financial cut their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group decreased their price target on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada lowered their price objective on 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. Finally, Oppenheimer reduced their target price on Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.56.

Jack in the Box Trading Down 0.9 %

Shares of NASDAQ:JACK opened at $46.31 on Wednesday. The firm has a market cap of $897.95 million, a price-to-earnings ratio of 8.15, a P/E/G ratio of 0.63 and a beta of 1.94. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The business has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $52.39.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.14. The company had revenue of $369.17 million during the quarter, compared to the consensus estimate of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. On average, sell-side analysts forecast that Jack in the Box will post 6.22 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were 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 owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Several institutional investors have recently modified their holdings of JACK. Selway Asset Management bought a new position in Jack in the Box in the third quarter worth $228,000. Inspire Investing LLC raised its stake in shares of Jack in the Box by 26.8% in the 3rd quarter. Inspire Investing LLC now owns 9,695 shares of the restaurant operator’s stock valued at $451,000 after buying an additional 2,048 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Jack in the Box during the 3rd quarter worth about $185,000. Point72 Asset Management L.P. boosted its position in shares of Jack in the Box by 386.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 30,190 shares of the restaurant operator’s stock valued at $1,538,000 after acquiring an additional 23,990 shares in the last quarter. Finally, Creative Planning increased its stake in Jack in the Box by 129.5% in the second quarter. Creative Planning now owns 8,564 shares of the restaurant operator’s stock valued at $436,000 after acquiring an additional 4,832 shares during the period. 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.