Northcoast Research Downgrades Jack in the Box (NASDAQ:JACK) to Neutral

Jack in the Box (NASDAQ:JACK) was downgraded by equities research analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports.

Several other research analysts have also issued reports on JACK. TD Cowen cut their price target on 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. The Goldman Sachs Group lowered their price objective on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research note on Monday, October 21st. Loop Capital lowered their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, October 14th. UBS Group lowered their price objective 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. Finally, StockNews.com downgraded Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Stock Performance

Shares of NASDAQ:JACK opened at $44.76 on Thursday. The business’s 50 day simple moving average is $46.00 and its two-hundred day simple moving average is $50.52. The firm has a market cap of $856.08 million, a P/E ratio of -22.49, a PEG ratio of 0.70 and a beta of 1.93. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the stock in a transaction on 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. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

A number of large investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings 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 acquiring an additional 89,649 shares during the period. MML Investors Services LLC boosted its stake in Jack in the Box by 20.3% during the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after buying an additional 819 shares during the period. XTX Topco Ltd bought a new stake in Jack in the Box during the third quarter valued at $429,000. EP Wealth Advisors LLC bought a new stake in Jack in the Box during the third quarter valued at $372,000. Finally, Stifel Financial Corp boosted its stake 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 buying an additional 43,086 shares during the period. 99.79% of the stock is owned by 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.