Jack in the Box (NASDAQ:JACK) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Jack in the Box (NASDAQ:JACK) from a strong sell rating to a sell rating in a research note published on Saturday, BidAskClub reports.

Several other research firms also recently issued reports on JACK. Morgan Stanley initiated coverage on shares of Jack in the Box in a report on Tuesday, May 21st. They set an equal weight rating and a $87.00 price objective for the company. Credit Suisse Group initiated coverage on shares of Jack in the Box in a report on Tuesday, June 25th. They set an underperform rating and a $75.00 price objective for the company. ValuEngine downgraded shares of Jack in the Box from a hold rating to a sell rating in a report on Wednesday, July 17th. SunTrust Banks upped their price objective on shares of Jack in the Box to $108.00 and gave the stock a buy rating in a report on Friday, May 17th. Finally, Goldman Sachs Group began coverage on shares of Jack in the Box in a report on Monday, July 29th. They issued a sell rating and a $69.00 price target for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $88.25.

Shares of NASDAQ JACK traded up $0.22 during trading hours on Friday, hitting $72.92. 371,262 shares of the stock were exchanged, compared to its average volume of 462,213. The business’s 50 day moving average is $79.55. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 1.32 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 posted its quarterly earnings data on Wednesday, May 15th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $215.73 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. As a group, analysts forecast that Jack in the Box will post 4.24 EPS for the current fiscal year.

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

Institutional investors have recently modified their holdings of the business. Chicago Equity Partners LLC boosted its stake in Jack in the Box by 90.4% during the 2nd quarter. Chicago Equity Partners LLC now owns 64,735 shares of the restaurant operator’s stock worth $5,269,000 after acquiring an additional 30,735 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Jack in the Box during the 2nd quarter worth approximately $237,000. Emerald Mutual Fund Advisers Trust raised its holdings in Jack in the Box by 69.4% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 233,797 shares of the restaurant operator’s stock worth $19,029,000 after buying an additional 95,810 shares during the period. Emerald Advisers LLC raised its holdings in Jack in the Box by 50.5% during the 2nd quarter. Emerald Advisers LLC now owns 257,342 shares of the restaurant operator’s stock worth $20,945,000 after buying an additional 86,340 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its holdings in Jack in the Box by 5.4% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 17,000 shares of the restaurant operator’s stock worth $1,384,000 after buying an additional 866 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

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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