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

Jack in the Box (NASDAQ:JACK) had its price objective lowered by Oppenheimer from $70.00 to $60.00 in a research report report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

A number of other research firms have also recently issued reports on JACK. TD Cowen lowered their target price on Jack in the Box from $57.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research note on Thursday. Piper Sandler cut their target price on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Jack in the Box in a research report on Monday, November 4th. Finally, StockNews.com cut Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.44.

Jack in the Box Trading Down 3.6 %

NASDAQ JACK traded down $1.65 on Friday, hitting $44.76. 783,160 shares of the company were exchanged, compared to its average volume of 506,883. The firm has a 50 day moving average of $46.00 and a two-hundred day moving average of $50.52. The company has a market cap of $856.08 million, a P/E ratio of -22.49, a P/E/G ratio of 0.70 and a beta of 1.93. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.93%. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Insider Buying and Selling

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. The trade was a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in Jack in the Box by 70.9% during the third quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after purchasing an additional 89,649 shares during the period. MML Investors Services LLC lifted its holdings in shares of Jack in the Box by 20.3% during the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 819 shares during the period. XTX Topco Ltd acquired a new stake in shares of Jack in the Box during the 3rd quarter worth approximately $429,000. EP Wealth Advisors LLC acquired a new stake in shares of Jack in the Box during the 3rd quarter worth approximately $372,000. Finally, Stifel Financial Corp increased its stake in Jack in the Box by 111.6% in the third quarter. Stifel Financial Corp now owns 81,691 shares of the restaurant operator’s stock valued at $3,802,000 after acquiring an additional 43,086 shares during the last quarter. Institutional investors 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.