Morgan Stanley Trims Jack in the Box (NASDAQ:JACK) Target Price to $98.00

Jack in the Box (NASDAQ:JACK) had its price target reduced by Morgan Stanley from $105.00 to $98.00 in a report released on Friday, Analyst Ratings Network reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

Several other research analysts have also weighed in on JACK. Truist lowered their target price on shares of Jack in the Box from $142.00 to $130.00 and set a buy rating for the company in a research note on Wednesday, November 24th. Northcoast Research cut shares of Jack in the Box from a buy rating to a neutral rating and set a $110.71 price target on the stock. in a research report on Wednesday, December 15th. Wedbush cut shares of Jack in the Box from an outperform rating to a neutral rating in a research report on Monday, December 6th. Oppenheimer reduced their target price on shares of Jack in the Box from $130.00 to $125.00 and set an outperform rating on the stock in a report on Wednesday, November 24th. Finally, Barclays reduced their target price on shares of Jack in the Box from $105.00 to $90.00 and set an equal weight rating on the stock in a report on Wednesday, December 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $113.14.

NASDAQ:JACK opened at $88.03 on Friday. The company has a market cap of $1.85 billion, a PE ratio of 11.93, a P/E/G ratio of 0.78 and a beta of 1.77. Jack in the Box has a twelve month low of $77.13 and a twelve month high of $124.53. The company’s 50 day moving average is $88.81 and its two-hundred day moving average is $98.22.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Monday, November 22nd. The restaurant operator reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.01. The company had revenue of $278.50 million during the quarter, compared to analysts’ expectations of $288.76 million. Jack in the Box had a net margin of 14.49% and a negative return on equity of 20.58%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, research analysts anticipate that Jack in the Box will post 6.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Thursday, December 9th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 8th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.00%. Jack in the Box’s dividend payout ratio (DPR) is presently 23.85%.

In other news, CEO Darin S. Harris sold 1,840 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $84.97, for a total transaction of $156,344.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,020 shares of company stock worth $171,350. Insiders own 1.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in shares of Jack in the Box by 794.0% during the 1st quarter. First Trust Advisors LP now owns 23,137 shares of the restaurant operator’s stock worth $1,875,000 after purchasing an additional 20,549 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Jack in the Box by 87.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,506 shares of the restaurant operator’s stock worth $365,000 after purchasing an additional 2,100 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Jack in the Box by 45.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 5,783 shares of the restaurant operator’s stock worth $643,000 after purchasing an additional 1,817 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Jack in the Box by 17.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,829 shares of the restaurant operator’s stock worth $315,000 after purchasing an additional 422 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Jack in the Box by 2.0% during the 2nd quarter. Swiss National Bank now owns 50,300 shares of the restaurant operator’s stock worth $5,605,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 98.67% of the company’s stock.

About Jack in the Box

Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.

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

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