Piper Sandler Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its price target cut by Piper Sandler from $56.00 to $53.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wedbush cut their price objective on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their price target on shares of 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. Oppenheimer cut their price target on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. Finally, TD Cowen lowered their price objective on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.06.

Jack in the Box Price Performance

Shares of NASDAQ JACK opened at $50.71 on Wednesday. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The company’s 50-day moving average is $46.22 and its 200 day moving average is $51.37. The stock has a market capitalization of $969.88 million, a P/E ratio of -25.48, a P/E/G ratio of 0.65 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.14. The company had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. Jack in the Box’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. Research analysts anticipate that Jack in the Box will post 6.21 earnings per share for the current year.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.47%. Jack in the Box’s payout ratio is presently -88.44%.

Insider Activity

In other news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Jack in the Box

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Jack in the Box by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after purchasing an additional 85,461 shares during the period. Victory Capital Management Inc. grew its stake in Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after acquiring an additional 403,423 shares in the last quarter. Clearline Capital LP grew its stake in Jack in the Box by 136.7% during the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after acquiring an additional 144,631 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Jack in the Box by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after acquiring an additional 18,874 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in Jack in the Box by 10.2% during the second quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock valued at $12,266,000 after acquiring an additional 22,226 shares in the last quarter. 99.79% of the stock is currently 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.