BidaskClub Downgrades Jack in the Box (NASDAQ:JACK) to Buy

BidaskClub lowered shares of Jack in the Box (NASDAQ:JACK) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on the company. Telsey Advisory Group raised their price objective on Jack in the Box from $95.00 to $105.00 and gave the stock an outperform rating in a research report on Thursday, August 22nd. ValuEngine raised Jack in the Box from a sell rating to a hold rating in a research report on Thursday, August 8th. Credit Suisse Group raised their price objective on Jack in the Box from $75.00 to $78.00 and gave the stock an underperform rating in a research report on Friday, August 9th. Wedbush raised Jack in the Box from a neutral rating to an outperform rating and raised their price objective for the stock from $75.00 to $105.00 in a research report on Friday, August 9th. Finally, Morgan Stanley set a $89.00 price objective on Jack in the Box and gave the stock a hold rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $92.92.

Shares of NASDAQ JACK opened at $91.25 on Tuesday. The stock has a market capitalization of $2.35 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.28. The stock’s fifty day simple moving average is $88.75 and its two-hundred day simple moving average is $82.55. Jack in the Box has a 12-month low of $70.77 and a 12-month high of $93.12.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $222.36 million for the quarter, compared to analysts’ expectations of $220.44 million. Jack in the Box had a negative return on equity of 18.59% and a net margin of 9.78%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. As a group, analysts forecast that Jack in the Box will post 4.36 EPS for the current year.

In related news, EVP Phillip H. Rudolph sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $86.16, for a total value of $516,960.00. Following the completion of the transaction, the executive vice president now owns 26,097 shares in the company, valued at approximately $2,248,517.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leonard A. Comma sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $86.10, for a total value of $1,291,500.00. Following the completion of the transaction, the chief executive officer now owns 204,552 shares of the company’s stock, valued at approximately $17,611,927.20. The disclosure for this sale can be found here. Insiders sold a total of 41,080 shares of company stock valued at $3,614,820 in the last three months. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. 6 Meridian raised its stake in Jack in the Box by 2.4% in the 2nd quarter. 6 Meridian now owns 6,178 shares of the restaurant operator’s stock worth $503,000 after acquiring an additional 146 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Jack in the Box by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,406 shares of the restaurant operator’s stock worth $847,000 after acquiring an additional 148 shares during the last quarter. Arizona State Retirement System raised its stake in Jack in the Box by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 18,734 shares of the restaurant operator’s stock worth $1,525,000 after acquiring an additional 203 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Jack in the Box by 6,483.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 395 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Finally, Strs Ohio purchased a new position in Jack in the Box in the 2nd quarter worth $40,000.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

Read More: What is a portfolio manager?

Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

Receive News & Ratings for Jack in the Box Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box and related companies with MarketBeat.com's FREE daily email newsletter.