Jack in the Box’s (JACK) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Jack in the Box (NASDAQ:JACK) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $70.00 price objective on the restaurant operator’s stock.

Several other analysts also recently weighed in on JACK. Wedbush dropped their target price on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Truist Financial cut their target price on Jack in the Box from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays decreased their price target on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Finally, Loop Capital lowered their target price on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.06.

Jack in the Box Price Performance

JACK opened at $50.10 on Monday. The company’s 50 day simple moving average is $46.16 and its two-hundred day simple moving average is $51.17. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Jack in the Box (NASDAQ:JACK) last posted its earnings results 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 company had revenue of $369.17 million during the quarter, compared to analysts’ expectations of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 earnings per share. Equities research analysts anticipate that Jack in the Box will post 6.19 EPS for the current year.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is -88.44%.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated Thursday, August 29th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Jack in the Box by 13.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock worth $33,156,000 after acquiring an additional 85,461 shares during the last quarter. Victory Capital Management Inc. raised its stake in Jack in the Box by 261.5% in the 2nd quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock valued at $28,408,000 after purchasing an additional 403,423 shares during the last quarter. Clearline Capital LP lifted its holdings in Jack in the Box by 136.7% in the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after purchasing an additional 144,631 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Jack in the Box by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock valued at $12,505,000 after purchasing an additional 18,874 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Jack in the Box by 10.2% during the 2nd quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock worth $12,266,000 after purchasing an additional 22,226 shares during the last quarter. 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.