Jack in the Box (NASDAQ:JACK) PT Lowered to $70.00

Jack in the Box (NASDAQ:JACK) had its price objective lowered by Royal Bank of Canada from $75.00 to $70.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the restaurant operator’s stock.

Several other equities research analysts also recently issued reports on JACK. Piper Sandler reduced their price objective on Jack in the Box from $60.00 to $56.00 and set a neutral rating for the company in a research note on Wednesday. UBS Group reduced their price objective on Jack in the Box from $87.00 to $60.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Oppenheimer reduced their price objective on Jack in the Box from $75.00 to $70.00 and set an outperform rating for the company in a research note on Wednesday. The Goldman Sachs Group began coverage on Jack in the Box in a research note on Thursday, June 13th. They set a sell rating and a $55.00 price target for the company. Finally, Wedbush cut their price target on Jack in the Box from $68.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned 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 price target of $71.61.

Jack in the Box Price Performance

Jack in the Box stock traded up $0.97 during mid-day trading on Wednesday, hitting $53.53. The company’s stock had a trading volume of 445,378 shares, compared to its average volume of 490,386. The firm’s 50 day moving average is $53.26 and its 200 day moving average is $61.40. The company has a market cap of $1.04 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.91. Jack in the Box has a 52-week low of $46.10 and a 52-week high of $88.36.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. The firm 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 16.97% and a net margin of 7.07%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. As a group, analysts forecast that Jack in the Box will post 6.29 EPS for the current year.

Jack in the Box Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 30th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, August 30th. Jack in the Box’s payout ratio is 30.99%.

Insider Activity at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the transaction, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 800 shares of company stock valued at $41,514. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC grew its holdings in Jack in the Box by 73.2% in the 1st 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. Headlands Technologies LLC acquired a new stake in Jack in the Box in the 1st quarter valued at approximately $97,000. Quadrant Capital Group LLC grew its holdings in Jack in the Box by 21.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock valued at $126,000 after buying an additional 276 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 179 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Jack in the Box in the 1st quarter valued at approximately $260,000. 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.