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

Jack in the Box (NASDAQ:JACK) had its target price dropped by Truist Financial from $70.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target suggests a potential upside of 20.00% from the company’s current price.

JACK has been the subject of several other research reports. Royal Bank of Canada lowered their price objective on Jack in the Box from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday. 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 report on Monday, November 18th. StockNews.com upgraded shares of Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $60.00 target price on shares of Jack in the Box in a report on Thursday. Finally, UBS Group reduced their price target on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.38.

Jack in the Box Stock Down 0.6 %

Jack in the Box stock opened at $47.50 on Friday. The firm has a fifty day simple moving average of $46.34 and a two-hundred day simple moving average of $50.18. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20. The company has a market capitalization of $908.49 million, a PE ratio of -24.36, a P/E/G ratio of 1.49 and a beta of 1.93.

Insiders Place Their Bets

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new stake in Jack in the Box during the 3rd quarter valued at about $41,000. EntryPoint Capital LLC grew its holdings in shares of Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 366 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Jack in the Box by 172.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after acquiring an additional 1,354 shares in the last quarter. SG Americas Securities LLC purchased a new position in Jack in the Box in the 3rd quarter worth approximately $185,000. Finally, MML Investors Services LLC raised 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 acquiring an additional 819 shares during 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.