Wedbush Trims Jack in the Box (NASDAQ:JACK) Target Price to $75.00

Jack in the Box (NASDAQ:JACK) had its target price lowered by Wedbush from $85.00 to $75.00 in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the restaurant operator’s stock.

A number of other equities analysts have also issued reports on JACK. Goldman Sachs Group initiated coverage on shares of Jack in the Box in a research report on Monday, July 29th. They issued a sell rating and a $69.00 target price for the company. SunTrust Banks increased their target price on shares of Jack in the Box to $108.00 and gave the company a buy rating in a research report on Friday, May 17th. BidaskClub lowered shares of Jack in the Box from a sell rating to a strong sell rating in a research report on Saturday, July 13th. Morgan Stanley started coverage on shares of Jack in the Box in a research report on Tuesday, May 21st. They issued an equal weight rating and a $87.00 target price for the company. Finally, ValuEngine lowered shares of Jack in the Box from a hold rating to a sell rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $88.25.

JACK traded up $0.22 on Friday, reaching $72.92. The company had a trading volume of 371,262 shares, compared to its average volume of 427,604. The firm has a fifty day moving average of $79.55. The stock has a market cap of $1.85 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.31 and a beta of 0.30. Jack in the Box has a one year low of $70.92 and a one year high of $93.98.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Wednesday, May 15th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.06. The firm had revenue of $215.73 million during the quarter, compared to analyst estimates of $217.99 million. Jack in the Box had a net margin of 13.85% and a negative return on equity of 19.41%. Jack in the Box’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, equities analysts anticipate that Jack in the Box will post 4.24 earnings per share for the current fiscal year.

In other news, VP Carol A. Diraimo sold 590 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $82.02, for a total transaction of $48,391.80. Following the completion of the transaction, the vice president now owns 17,588 shares in the company, valued at approximately $1,442,567.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Phillip H. Rudolph sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $82.00, for a total transaction of $164,000.00. Following the transaction, the executive vice president now owns 99,357 shares of the company’s stock, valued at approximately $8,147,274. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,267 shares of company stock valued at $436,103. Insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in JACK. First Trust Advisors LP purchased a new position in shares of Jack in the Box during the fourth quarter valued at approximately $201,000. Two Sigma Investments LP raised its stake in shares of Jack in the Box by 232.3% during the fourth quarter. Two Sigma Investments LP now owns 10,300 shares of the restaurant operator’s stock valued at $800,000 after acquiring an additional 7,200 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Jack in the Box during the fourth quarter valued at approximately $396,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Jack in the Box during the fourth quarter valued at approximately $481,000. Finally, Amalgamated Bank raised its stake in shares of Jack in the Box by 8.4% during the fourth quarter. Amalgamated Bank now owns 3,941 shares of the restaurant operator’s stock valued at $306,000 after acquiring an additional 304 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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