Jack in the Box (NASDAQ:JACK) Price Target Cut to $65.00 by Analysts at Royal Bank of Canada

Jack in the Box (NASDAQ:JACK) had its target price decreased by Royal Bank of Canada from $70.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price target points to a potential upside of 39.48% from the company’s current price.

Other equities analysts have also issued reports about the company. Guggenheim dropped their price objective on Jack in the Box from $95.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush reduced their price objective on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Oppenheimer dropped their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Finally, The Goldman Sachs Group lowered their target price on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.59.

Jack in the Box Stock Up 2.2 %

Shares of JACK stock opened at $46.60 on Thursday. The business’s 50 day moving average is $46.18 and its two-hundred day moving average is $50.28. The company has a market cap of $891.46 million, a PE ratio of -21.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. Jack in the Box has a 12 month low of $40.84 and a 12 month high of $86.20.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the business’s stock in a transaction on 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. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of Jack in the Box

Several hedge funds and other institutional investors have recently modified their holdings of JACK. The Manufacturers Life Insurance Company raised its position in Jack in the Box by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after buying an additional 358 shares during the last quarter. EntryPoint Capital LLC increased its stake 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock valued at $255,000 after acquiring an additional 503 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Jack in the Box by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after purchasing an additional 644 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in Jack in the Box by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after acquiring an additional 790 shares in 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.